1、 Price trend
| Bacillus thuringiensis |
The domestic xylene market continued its downward trend this week. As of Friday, the domestic average price was about 3330 yuan / ton, down 1.19% month on month.
2、 Analysis and comment
Xylene prices continued to fall this week. Sinopec’s enterprises in South China and central China will cut the price of xylene by about 100 yuan / ton this week. The port inventory is high. At present, the port inventory in East China is about 135000 tons, which is about 5000 tons lower than last week. The pressure to go to the warehouse is not reduced, the price is weak, and the demand has not improved. Market oversupply, downstream Px, gasoline blending demand is general. At present, the mainstream price in East China is about 3430 yuan / ton. The future market will focus on the outcome of the US election, the progress of the US economic stimulus plan, the fluctuation of the US dollar index and the stock market, the geographical situation in the Middle East and the impact of OPEC + on crude oil supply, the impact of the continuous deterioration of overseas epidemic situation on the demand for crude oil, the progress in the research and development of the new crown vaccine, the global economic recovery, and the European and American economic recovery relief plan Progress.
In terms of crude oil, API and EIA data released in the early morning and night of Beijing time showed that the crude oil storage data of the United States last week was significantly lower than expected, and the news that OPEC + and Russia are considering a more substantial reduction in production at the beginning of next year boosted the bottom of the international crude oil recovery at the beginning of the week. However, the new epidemic situation in Europe and the United States is becoming more and more severe, and the result of the US election is still pending, which makes the market sense As of Friday, Brent rose 2.095 USD / barrel to 38.3 USD / barrel, up 5.79% from last week. At present, the main uncertain factors in the market come from the new crown epidemic in Europe and the United States and the uncertainty of the US presidential election. The final direction of crude oil will not take further action until the demand side is better and the US election is clear. In the medium term, oil prices mainly depend on the recovery of demand side and the direction of macro market.
| Potassium monopersulfate |
Downstream, in terms of PX market, the listed price of domestic Sinopec’s enterprises was about 4300 yuan / ton this week, and the latest external price was about 498 US dollars / ton FOB Korea and 516 US dollars / ton CFR China. It is expected that the short-term PX market will continue to decline. In terms of PTA market, the market price continued to decline this week. The domestic PTA spot market price was about 3126 yuan / ton, and the external price was about 421 US dollars / ton CFR China. It is expected that PTA price will continue to decline next week. In terms of ox market, Sinopec quoted 4400 yuan / T of o-benzene, and the external price of o-benzene was about 532 USD / T FOB Korea and 553 USD / T CFR China. It is expected that the price of o-benzene will continue to decline next week.
3、 Future forecast
Xylene analysts of the chemical branch of the business society think: first look at the supply cost side, the implementation of OPEC + production reduction, the total number of us oil drilling and EIA, API inventory data. Second, on the demand side, the impact of the worsening global epidemic situation on crude oil demand, the progress of industrial chain recovery, the economic and trade situation of Europe and the United States and the progress of economic recovery and rescue plan. Third, look at the linkage between the US dollar index and the stock market, the progress in the research and development of the new crown vaccine, and the geopolitical situation in the Middle East and China and the United States. Next week, we will focus on the US general election, the progress of a new round of US stimulus measures, and the impact of dollar index and stock market volatility on the trend of crude oil. Overall, it is expected that xylene in domestic market will be weak and fluctuate slightly next week.
| ferric sulfate (Poly ferric sulphate) |