Price Trend

According to the data from the business associations’list, the overall price of xylene in China fell this week. At the beginning of the week, the average price of xylene was 5,737 yuan per ton. On Friday, the average price of xylene was 5,676 yuan per ton, with a weekly decline of 1.07%.

II. Analytical Review

1. Crude oil: At the beginning of the week, the United States intends to completely cut off Iranian crude oil exports to exert pressure on Iran. The international oil price has been greatly affected by this, ushering in a major upward breakthrough and boosting commodities. On Friday, Russia said there was no risk of a shortage of supply in the current market. Trump asked OPEC to help reduce oil prices and international oil prices fell sharply. Spot Brent $71.2-74.31 per barrel. Overall, the toluene market is supported by the high level of crude oil, and the price has not changed much.

2. FOB Korea toluene reference price is also affected by crude oil, from $738 per ton in midweek to $723 per ton on Friday. The toluene prices of Sinopec’s subsidiaries in North and South China have been lowered.

3. Downstream: The inventory of xylene port has decreased, and the inventory of East China is about 110,000 tons. Xylene market entered the delivery period, mainly in spot circulation, the downstream demand increased, the market negotiation atmosphere was good, the attention was mostly focused on the PX device start-up.

3. Future Market Forecast

Analysts of Xylene Branch of Business Society and Chemical Industry believe that in general, the recent large-scale xylene plant has entered the overhaul period, and the output has slightly decreased. The price of international crude oil has fallen sharply in recent days, while the market of xylene is relatively stable, so it is expected that the price of xylene will fall with the oil price in the near future.