Domestic price trend:

From the trend chart of para xylene, it can be seen that the price trend of para xylene has remained stable this week. As of the weekend, the domestic ex factory price of para xylene was 8700 yuan/ton, which is the same as the price of 8700 yuan/ton at the beginning of the week, with a year-on-year increase of 1.16%.

The domestic supply of xylene is relatively normal, with a domestic PX operating rate of over 70%. However, there is little change in spot supply during the maintenance of some xylene units. This week, international crude oil prices have risen, and PX external prices have been mainly affected by this. As of the 23rd, the closing prices in the Asian region are 984-986 yuan/ton FOB Korea and 1009-1011 US dollars/ton CFR China. Recently, the operating rate of PX plants in Asia has been mainly fluctuating. Overall, the operating rate of xylene plants in the Asian region is around 70%. The supply of PX goods in the Asian region has not changed much, and the domestic xylene market price trend is temporarily stable.

Recently, international crude oil prices have risen. As of the 23rd, the US WTI crude oil futures market is closed, and the settlement price of Brent crude oil futures main contracts is 81.25 yuan/barrel. At the beginning of the week, crude oil prices surged mainly due to increased expectations of OPEC+, an oil producing country, reducing production at Sunday’s meeting. The news was positive for the crude oil market, and oil prices surged at the beginning of the week. On the other hand, poor economic data, coupled with bearish factors such as increased US crude oil inventories, have jointly affected the crude oil market. Overall, crude oil prices rose sharply at the beginning of the week and then slightly declined, while the domestic xylene market price trend is temporarily stable.

The domestic PTA spot market trend has declined, with an average price of 5825 yuan/ton in the East China market as of the weekend, a 3.33% decrease from the beginning of the week price of 6025 yuan/ton. From the recent changes in PTA’s own equipment, there have been many device restarts, and the industry’s operating rate has risen to over 80%. The downstream polyester production load is above 87%, and cost support is weakening. The polyester filament market is cautious and cautious, with the consumption of early raw material stocking as the main focus, resulting in a stalemate in transaction focus. The trading atmosphere in the short fiber market is light, with many traders offering discounts on prices, and customers from yarn factories have limited orders and low purchasing willingness. The operating rate of Jiangsu and Zhejiang weaving has moderately decreased to around 75%, coupled with low profits from raw fabrics, it is expected that a small amount of raw materials will be purchased at a low price by the end of the month. The unfavorable downstream market is bearish for the xylene market, and the PX market trend is temporarily stable.

Chen Ling, an analyst at Business Society PX, believes that there is not much change in domestic PX supply. The upstream crude oil market is a long short game, and overall, crude oil prices are mainly fluctuating in the range. In the early stages of downstream PTA maintenance equipment, new equipment is being restarted and put into operation. With the decrease in downstream polyester production load, the PTA market is under pressure, and it is expected that the terminal’s sustained replenishment may be difficult to sustain. It is expected that the market price of xylene may slightly decline in the later stage.