Domestic price trend:

From the PX trend chart, we can see that the PX price trend is stable this week. As of the end of the week, the domestic PX ex factory price is 6700 yuan / ton, which is the same as that at the beginning of the week, with a year-on-year increase of 21.82%. The PX external price trend is volatile this week, and the domestic PX market is highly dependent on foreign countries. The high external price has a certain positive impact on domestic prices.

In recent years, the domestic PX operation rate is more than 60%. Sinopec Hongrun Petrochemical 600000 ton unit operates stably, Yangzi petrochemical unit operates stably, Pengzhou petrochemical unit operates stably, Yangzi Petrochemical PX unit operates normally, Jinling Petrochemical unit operates stably, Qingdao Lidong unit operates at full load, Qilu petrochemical unit operates stably, and Urumqi petrochemical unit starts at about 50% The supply of xylene is general, but there are many overhauls of overseas units, and the domestic price trend of p-xylene remains high. The recent international crude oil price trend is volatile, and the PX external price has little change. As of the 11th, the closing price of Asian region is 827-829 USD / T FOB Korea and 845-847 USD / T CFR China. The recent Asian PX unit operating rate has little change. Overall, the Asian PX unit operating rate is less than 60%, the Asian PX supply is general, and the PX external closing price has little change, which is affected by the external factors The domestic market price of p-xylene was affected by the market price.

Recently, oil prices remain at a high level. The OPEC said on Thursday that the recovery of oil demand will be concentrated in the second half of the year. COVID-19′s influence will not help the organization and its allies to support the market. In the monthly report, OPEC said that oil demand in 2021 will increase by 5.89 million barrels per day, or 6.5%, slightly higher than that of last month. On March 11, the settlement price of the main contract in the U.S. WTI crude oil futures market was US $66.02 per barrel, and the settlement price of the main contract in the Brent crude oil futures market was US $69.63 per barrel, or US $1.73 or 2.6%. The rise of oil price is mainly due to the decline of us refined oil stocks and the resumption of production in Texas refineries. It is expected that the oversupply of crude oil will only be a short-term phenomenon. The high crude oil price is a good support for PX market, and the domestic price trend of p-xylene is temporarily stable.

In the near future, the price trend of PTA Market in the lower reaches has dropped sharply, and the domestic PTA spot market has declined. As of the 12th, the average price of PTA market was 4450-4500 yuan / ton, down 5.41%. PTA supply continues to be at a high level. Due to limited maintenance efforts, the operation rate of domestic PTA plant is about 79%. The terminal market resumed work in an orderly manner after the festival. As of March 12, the comprehensive operating rate of chemical fiber weaving in Jiangsu and Zhejiang areas has increased to more than 84%. The downstream market has been cautiously observed, with more inquiries, but the “order” is still hesitant, and the order has not been significantly improved. The sharp decline of PTA price in the downstream has a negative impact on the price of PX market in the upstream, and the price trend of PX market is temporarily stable.

Business community PX analyst Chen Ling believes that the current cost side still has some support, the short-term crude oil price will remain high volatility, but the downstream PTA product overhaul device may increase, and it is expected that the market price of p-xylene will remain stable in the future.