According to statistics, in August, the domestic price of p-xylene was stable. At the beginning of the month, the domestic price was 4600 yuan / ton, and at the end of the month, the domestic PX market price was 4600 yuan / ton. The price trend was stable, with a year-on-year decrease of 30.83%. The price fluctuation of PX was the main external price fluctuation. The domestic PX market had a high degree of external dependence. The external price fluctuation had a certain guiding effect on the domestic price.

In recent years, the domestic market price trend of p-xylene is temporarily stable. The domestic PX operating rate is about 60%. Sinochem Hongrun Petrochemical Co., Ltd. has put into operation a 600000 ton new unit, Yangzi Petrochemical plant has been running stably, fuhaichuang plant has been operating in one line, Pengzhou petrochemical plant has been running stably, Yangzi Petrochemical plant has been operating normally, Jinling Petrochemical plant has been running smoothly, Qingdao Lidong unit has been operating at full load, Qilu Petrochemical Company has been operating steadily The operation of the unit is stable. The start-up of Urumqi petrochemical plant is about 50%. The domestic supply of p-xylene is normal. Affected by crude oil price fluctuation, the domestic PX market price trend is stable. The international crude oil price rose slightly in August, while the external price of PX fluctuated mainly. As of the 28th, the closing prices in Asia were 517-519 USD / T FOB Korea and 535-537 USD / T CFR China. Recently, the operation rate of PX units in Asia has been stable. Generally speaking, the operating rate of PX units in Asia is about 60%. The supply of PX goods in Asia is normal. The closing price of PX in August has little change in China The price trend of p-xylene market is stable.

With the gradual recovery of the economy, crude oil demand has picked up. In August, the international crude oil price closed at more than $40 / barrel. As of the 28th, the main contract settlement price of WTI crude oil futures market in the United States was 42.97 US dollars / barrel, and that of Brent crude oil futures market was 45.81 dollars / barrel. On the one hand, under the influence of the hurricane in the Gulf of Mexico, the shutdown supply of oil facilities decreased In the medium term, oil prices do not have the fundamentals of a substantial upward trend. In addition, under the OPEC + oil producing countries’ agreement on production reduction, the scale of production reduction will gradually decrease, and there is a certain risk in the supply side in the medium and long term. What’s more, there are still great risks in the epidemic situation in Europe, America and Asia and the pace of demand recovery It may be affected by the epidemic situation for a long time. The crude oil price fluctuates at a high level, and the price trend of p-xylene market is stable.

In August, the price trend of downstream PTA market did not change much, and the domestic PTA spot market remained low and volatile. As of the end of the month, the average price of PTA market was about 3570 yuan / T, down 31.16% year on year. In August, the domestic PTA market was weak and volatile, new units were put into operation, terminal demand was weak, supply increased, inventory was high, fundamentals were under negative pressure, and the price was mainly fluctuating. At the end of the month, the cost end support and terminal demand were bargain hunting, and the tail showed a small decline. Affected by the low price of downstream PTA market, the domestic p-xylene market price trend was temporarily stable.

Chen Ling, PX analyst of the business agency, believes that the crude oil price has remained mainly volatile in recent years, coupled with the slow recovery of domestic and foreign trade at the terminal, and the unstable order performance, the current raw material procurement remains mainly rigid demand. If the follow-up orders can not be followed up in time, it is expected that the market price of p-xylene in September will remain stable.