1、 Price trend
According to the bulk list data of business society, mixed xylene rebounded after falling this week. On May 6, the price was 7610 yuan / ton; On Friday (May 13), the price was 7630 yuan / ton, up 0.26% from last week; Compared with the same period last year, it increased by 25.29%.
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2、 Analysis and comment
In the first half of the week, due to the wide decline of crude oil, the weakening of gasoline market and the poor mentality of mixed xylene spot market, it followed the decline of main refineries. Crude oil rebounded higher in a wide range on Wednesday, coupled with the sharp rise of mixed xylene in Asia in the external market, which gave positive support to the cost side. The restart of downstream PX plant, the expected increase in demand and the increase in export orders of toluene also boosted the mixed xylene market, and the domestic market price rebounded.
In the external market, the mixed xylene in Asia rose broadly this week. On Thursday (May 12), the price of mixed xylene imported from South Korea was US $1214.5/ton, with a year-on-year increase of US $98 / ton, or 8.78%; The reference price of domestic imported mixed xylene was 1188 US dollars / ton, with a year-on-year increase of 59 US dollars / ton or 5.23%.
In terms of crude oil, crude oil rose after a wide decline this week, and the market fluctuated left and right under the fundamentals of good supply and bad demand. As of May 13, Brent fell 0.84 USD / barrel, or 0.75%; WTI rose $0.72/barrel, or 0.66%.
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In the downstream, PX market, domestic PX rose broadly this week. On Friday (May 13), the ex factory price of domestic p-xylene was 9300 yuan / ton, up 4.49% from last week and 45.31% from the same period last year.
In terms of ox market, the price of ox in East China was stable this week. On Friday (May 13), the price of ox in East China was 8200 yuan / ton, flat compared with last week and up 32.26% compared with the same period last year.
In terms of gasoline, gasoline in Shandong rebounded after falling this week. The price was 8907.4 yuan / ton on May 6 and 8618 yuan / ton on May 13, down 3.25% from last week and up 14.29% from the same period last year.
3、 Future forecast
In terms of crude oil, the situation in Russia and Ukraine is full of uncertainty, and the fear of tightening oil supply remains unabated. However, high oil prices are bad for the economy and demand, and there is still a risk of violent fluctuations in short-term crude oil. Continue to pay attention to the impact of geopolitical situation, OPEC + decision on crude oil production, US crude oil and refined oil storage dynamics, global economic conditions and other factors on crude oil prices.
The external price is high, which supports the domestic market well in the short term, and the price of mixed xylene is expected to be strong in the short term. Pay attention to the market trend of crude oil and gasoline, the impact of mixed xylene and downstream device dynamics, port inventory and external market on the price of mixed xylene.
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