1、 Price trend:

According to statistics, the domestic ex factory price of p-xylene rose slightly this week. The weekend average price was 6900 yuan / ton, 2.99% higher than the price of 6700 yuan / ton at the beginning of the week, down 14.81% year on year.

2、 Market analysis:

Products: this week, the market price trend of paraxylene in China has increased. The domestic PX operation rate has maintained more than 70%, the operation of new 600000 ton Hongrun plant is stable, the operation of Huizhou refining and chemical plant is stable, the operation of Fuhai Chuang plant is one line, the operation of Pengzhou petrochemical plant is stable, the operation of Yangzi Petrochemical PX plant is normal, the operation of Jinling Petrochemical plant is stable, the operation of Qingdao Lidong plant is full load, Qilushi The operation of the chemical plant is stable, the petrochemical plant in Urumqi is about 50%, Hengli petrochemical plant is in normal operation, the domestic supply of p-xylene is normal, and the domestic market price of p-xylene is rising slightly. This week, the operating rate of PX plant in Asia is more than 70%, and the supply of PX in Asia is normal. This week, the external price of PX rose slightly. As of the end of the week, the closing price of PX market in Asia was $814-816 / ton FOB South Korea and $834-836 / ton CFR China. Affected by the high international crude oil price, the external price of PX rose slightly this week, and about 50% of domestic products need to be imported The closing price rise of PX outside market has brought certain good support to the domestic market, and the price trend of domestic PX market has increased slightly.

Industry chain: the closing price of domestic crude oil fell slightly this week. As of the second day, the price of WTI crude oil futures market in the United States was $61.18/barrel, and Brent crude oil futures market was $66.25/barrel. Overall, the closing price of crude oil in this week was volatile. As of the week of December 20, the U.S. crude oil inventory (excluding strategic oil reserves) decreased by 5.5 million barrels compared with the previous week, and the U.S. crude oil inventory was 4.414 Billion barrels, 2% higher than the five-year average at this time of year. The total inventory of automobile gasoline has increased by 2 million barrels, about 5% higher than the five-year average at this time of year. Last week’s inventory of finished gasoline and mixed components both increased, while the inventory of distillate fuel decreased by 200000 barrels, 8% lower than the five-year average. In this week, the price trend of PTA Market in the downstream decreased slightly, down 1.58% in this week. As of the end of the week, the price trend of PX market of raw materials in the upstream increased slightly near the 4900-5000 yuan self delivery negotiated in the PTA Market in East China. Recently, the starting load of PTA is about 82%, the terminal demand slightly changed, and the price trend of PX slightly increased. The polyester start-up load in the lower reaches is around 81%, and the start-up rate of Jiangsu and Zhejiang looms is down to 61%. The profit of terminal weaving and texturing enterprises is not optimistic. The comprehensive starting rate of Jiangsu and Zhejiang looms has declined. The purchasing and stock up mood is general. The prices of polyester mainstream factories in Jiangsu and Zhejiang are mainly stable. The terminal demand has not improved significantly. The price trend of xylene market is limited.

Industry: this week, the textile industry’s market trend remained volatile, the textile industry’s operating rate declined, crude oil prices fluctuated, and raw material PX market rose slightly.

3、 Future forecast:

Chen Ling, an PX analyst at business club, believes that the recent crude oil price volatility is the main factor, coupled with a slight drop in PTA market price, the price of PX external market has declined, the operating rate of downstream textile industry has declined slightly, and the domestic PX market supply is normal. It is expected that the PX market price will maintain the level of 6900 yuan / ton next week.