1、 Price trend

According to the data in the business club’s bulk list, the price of domestic isomeric xylene market fell sharply this week, down 5.61% on last week as of Friday.

2、 Analysis and comment

1. Products: Due to the collapse of OPEC + production reduction agreement between OPEC and Russia, coupled with the continuous spread of overseas epidemics, and the fear of shrinking crude oil demand, the international crude oil price fell sharply this week, as well as the price of xylene in South Korea market. Although domestic enterprises gradually entered the resumption period and the market demand gradually improved, the price of domestic isomeric xylene still followed the decline. At present, in East China The main price is about 4900 yuan / ton.

2. Industrial chain:

Upstream, in terms of crude oil, the international oil price rebounded at the beginning of this week and fluctuated steadily. As of Friday, Brent futures rose 2.01%, Brent futures rose 2.94%, WTI futures rose 2.49% and Dubai futures rose 3.65%.

Downstream, in PX market, this week, the price of domestic Sinopec’s enterprises is about 6200 yuan / ton, and the latest price on the outside market is about 665 US dollars / ton for FOB South Korea and 683 US dollars / ton for CFR China. It is expected that PX market price will stabilize after the bottom is reached next week. In terms of PTA market, the spot market price of PTA in China is about 4250 yuan / ton, and the external market price is about 552 US dollars / ton CFR China. It is expected that PTA price will stabilize after the bottom is reached next week. In the ox market, Sinopec’s price of o-benzene fell, with the price between 5600-5800 yuan / ton. The external price of o-benzene is about 720 US dollars / ton FOB South Korea. It is expected that o-benzene will stabilize after bottoming out next week.

3、 Future forecast

According to xylene analyst of business and chemical branch, we will continue to focus on the news of OPEC + production reduction agreement next week, worries about the global economy due to the continuous spread of overseas epidemic, the trend of international crude oil and the progress of downstream enterprises’ resumption of work. On the whole, it is expected that the price of isomeric xylene in the international crude oil market and South Korean market will rebound in the next week, adding that domestic enterprises will gradually enter the resumption period, and the market demand will gradually improve. It is expected that the price of isomeric xylene in the domestic market will stabilize in the next week.