According to statistics, in March, the trend of domestic p-xylene ex factory price fell sharply. At the beginning of the month, the domestic price was 6300 yuan / ton, and at the end of the month, the price of domestic PX market was 4300 yuan / ton. The price trend fell by 31.75%, 46.91% year-on-year. The external price of PX fell sharply, and the external dependence of domestic PX market was high. The decline of external price was a negative effect of domestic price.

In recent years, the market price trend of p-xylene in China has declined significantly. The domestic PX operation rate is about 70%. The 600000 ton new unit of Sinochem Hongrun Petrochemical Co., Ltd. has been put into operation. The operation of Yangzi Petrochemical plant is stable. The first line of Fuhai Chuang plant has been started. 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. Qilu Petrochemical plant is in full load operation The operation of petrochemical plant is stable, the start-up of Urumqi petrochemical plant is about 50%, the operation of Hengli petrochemical plant is normal, the domestic p-xylene supply is sufficient, and the domestic market price is significantly lower. Affected by the plummeting international crude oil price, the external price of PX fell sharply in March. As of the 27th, the closing price in Asia was US $471-473 / T FOB South Korea and US $491-493 / T CFR China. Recently, several PX units in Asia are still under maintenance. As a whole, the operating rate of PX units in Asia is about 70%, the supply of PX goods in Asia is normal, and the closing price of PX is significantly lower The price of p-xylene in the domestic market fell sharply.

Influenced by international health events and Saudi Arabia’s crude oil production increase, the closing price of international crude oil fell sharply in March. As of the 27th, the price of WTI crude oil futures market in the United States continued to fall, with main contracts at 21.51 yuan / barrel and Brent crude oil futures market at 27.95 USD / barrel. The closing price of crude oil fell sharply in March, which lost the cost supporting role for downstream petrochemical products. Domestic Influenced by the sharp decline of raw material prices, petrochemical products have declined to varying degrees, and the domestic market price trend of p-xylene has declined significantly.

In March, the price trend of PTA Market in the downstream fell sharply. As of 30, the price of PTA Market in East China was about 3300-3400 yuan, down 21.30% in March. In this sudden public health event, the terminal weaving enterprises were the most affected in PTA industry chain, and when the downstream production could resume became the most worried topic in the market. In recent years, many countries in the world have been affected, the export of domestic textile industry has been greatly restricted, the downstream demand is poor, and the price of domestic PTA market has fallen sharply. With the promotion of resumption of production and gradual recovery of the downstream, the operating rate of Jiangsu and Zhejiang looms has returned to 73%, returning to the normal level. However, overseas textile demand in Europe and the United States has plummeted, accounting for nearly 60% of China’s textile exports, with weak overseas demand, less domestic textile export orders and overstock of domestic textiles. From the perspective of polyester end, at present, the load is restored to a higher level, and the inventory is still high. There are 30-35 days for each polyester library. Affected by the decline of export orders, the inventory and capital pressure of textile enterprises will rise, the enthusiasm of starting in the second quarter will decline, and the loom operating rate will decline, which will aggravate the accumulated pressure of polyester industry, thus forcing it to reduce the load. The domestic market for p-xylene will be affected by the lower downstream price, and the market price of p-xylene will fall sharply.

Chen Ling, an analyst at Px, a business agency, believes that in the near future, the crude oil price has plummeted, the downstream PTA market price has fallen sharply, and the terminal market inventory is high, so the export is limited. It is expected that the market price of p-xylene will continue to fall in the later period.