1、 Price trend
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According to the bulk list data of business society, the price of mixed xylene continued to rise this week. On January 14, the price was 6290 yuan / ton; On Friday (January 21), the price was 6330 yuan / ton, up 0.64% from last week; Compared with the same period last year, it increased by 52.9%.
2、 Analysis and comment
Crude oil rose continuously, with strong cost support, driving up the prices of related commodities and gasoline, and mixed xylene rose. The arrival of ships and cargoes in East China is concentrated, the inventory is under pressure, and the price is weak and stable; The downstream gasoline industry in Shandong Province actively purchased before the festival, and the price rose.
In the external market, the mixed xylene in the external market rose in shock this week. On Thursday (January 20), the price of mixed xylene imported from South Korea was US $847.5/t, up US $17 / T or 2.05% month on week compared with January 13; The reference price of domestic imported mixed xylene was 870 US dollars / ton, up 14 US dollars / ton or 1.64% month on month on January 13.
In terms of crude oil, the crude oil market shows a pattern of weak supply and strong demand, and the prospect of market demand for crude oil is better. Superimposed on the tightening of geographical situation, the international oil price has continued to rise this week. Near the weekend, investors took profits and oil prices fell. As of January 21, Brent rose $1.83 / barrel, or 2.13%; WTI rose $1.32/barrel, or 1.57%.
Downstream, in the PX market, domestic PX rose broadly this week. On Friday (January 21), the ex factory price of domestic p-xylene was 7300 yuan / ton, an increase of 5.8% over last week and 55.32% over the same period last year. As of January 20, the closing prices in Asia were USD 961-963 / T FOB Korea and USD 981-983 / T CFR China.
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In terms of ox market, the price of ox in East China rose this week. On Friday (January 21), the price of ox in East China was 6800 yuan / ton, an increase of 3.03% over last week and 44.68% over the same period last year.
In terms of gasoline, gasoline in Shandong fell slightly after rising this week. The price was 7942.6 yuan / ton on January 14 and 8132.6 yuan / ton on January 21, an increase of 2.39% over last week and 39.13% over the same period last year.
3、 Future forecast
In terms of crude oil, the situation of weak supply and strong demand for crude oil continues, and the demand outlook is generally good. The short-term trend of crude oil is strong, which provides good support for relevant bulk commodities. Continue to pay attention to the impact of the global epidemic, OPEC + decisions on crude oil production, the inventory dynamics of U.S. crude oil and refined oil, and global economic conditions on crude oil prices.
Crude oil support remained unchanged, but with the end of downstream pre holiday preparation, the demand for mixed xylene weakened, and it was not easy to support the price. Overall, mixed xylene is expected to be dominated by shock consolidation before the festival. Pay attention to mixed xylene port and plant dynamics, downstream market and plant dynamics, as well as the impact of crude oil, external market and other trends on mixed xylene prices.
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