1、 Price trend

According to the data of the large scale list of business agencies, the domestic xylene market price rebounded steadily this week. As of Friday, the domestic average price was about 3620 yuan / ton, up 5.54% on last week.

2、 Analysis and comment

1. Product: at present, the downstream demand is not strong, the transaction is general, the port inventory remains relatively high, but the oil price this week received four consecutive positive, driven by the cost, the domestic xylene price this week rose steadily, and the current mainstream price in East China is about 3660 yuan / ton.

2. Industrial chain:

Upstream, in terms of crude oil, it is expected that the demand for crude oil will be better for global enterprises to resume work, adding that the total number of us oil drilling and EIA inventory will be greatly reduced, and the oil price will receive four consecutive positive results this week. At present, the international oil price shows signs of resistance near the high of nearly two months, so as to prevent the trend of shock and fall next week. As of early Friday morning, spot Brent rose 13.07%, Brent futures rose 13.21%, WTI futures rose 14.91% and Dubai futures rose 6.54%.

Downstream, in PX market, this week, the price of domestic Sinopec’s enterprises is about 4000 yuan / ton, and the latest price of the external market is about 468 US dollars / ton for FOB South Korea and 486 US dollars / ton for CFR China. It is expected that the market price of PX will rise slightly in the short term. In terms of PTA market, the spot market price of PTA in China is about 3550 yuan / ton, and the external market price is about 431 US dollars / ton CFR China. It is expected that the PTA price will be slightly revised back next week. In the ox market, Sinopec’s offer of ortho benzene is stable, with the price of 4000 yuan / ton. The external price of ortho benzene is about 470 US dollars / ton FOB South Korea. It is expected that the price of ortho benzene will rise slightly next week.

3、 Future forecast

According to xylene analyst of business and chemical branch, in the short term, we can see the supply cost side, OPEC + production reduction, total number of us oil drilling and EIA inventory. In the medium term, we can see the demand side, the economic and trade situation between China and the United States, the progress of economic restart in Europe and the United States, and the progress of industrial chain recovery. Next week, we will focus on the trend of crude oil. Overall, it is expected that xylene prices in the domestic market will be subject to shock adjustment next week.