Domestic price trend of paraxylene:

It can be seen from the trend chart of paraxylene that the price trend of this week is temporarily stable. As of the weekend, the domestic ex factory price of paraxylene was 9000 yuan/ton, unchanged from the early price of 9000 yuan/ton, up 26.76% year on year.

Recently, the domestic supply of paraxylene is normal, the domestic PX operation rate is about 70%, the 600000 ton unit of Sinochem Hongrun Petrochemical is operating stably, the unit of Yangzi Petrochemical is operating stably, the unit of Pengzhou Petrochemical is operating stably, the PX unit of Yangzi Petrochemical is operating normally, the unit of Jinling Petrochemical is operating stably, the unit of Qingdao Lidong is operating at full load, the unit of Qilu Petrochemical is operating stably, and the unit of Urumqi Petrochemical is operating at about 50%, The domestic supply of paraxylene is relatively normal. Recently, the supply of overseas devices is relatively normal. The crude oil price has declined slightly this week, and the domestic price of paraxylene is temporarily stable. This week, the price of PX external market fell slightly. As of the 22nd, the closing price in Asia was 1054-1056 US dollars/ton FOB South Korea and 1072-1074 US dollars/ton CFR China. Recently, the operating rate of PX devices in Asia has not changed much. The closing price of PX external market declined slightly, and the price of domestic paraxylene market has temporarily stabilized.

The crude oil price fell slightly this week. As of the 22nd of this week, the settlement price of the main contract of WTI crude oil futures in the United States had reached 83.49 dollars/barrel, and the settlement price of the main contract of Brent crude oil futures had reached 90.46 dollars/barrel. The boots of the Federal Reserve’s interest rate increase landed at 75 basis points. In addition, the repeated outbreaks depressed the demand for crude oil, and the trend of international oil prices declined. As of the week ended September 16, US crude oil inventory increased by 1.1 million barrels to 4307.7 million barrels, and analysts expected an increase of 2.2 million barrels. According to EIA report, the inventory of Cushing crude oil in Oklahoma, the delivery place of NYMEX crude oil futures, increased by 343000 barrels, and the international oil price closed down slightly, which affected the price trend of the domestic paraxylene market temporarily.

The downstream PTA market price fell slightly this week, and the average PTA market price was 6550-6650 yuan/ton as of the 23rd. The PTA maintenance device was restarted, and the industry started to rise to about 73.5%. In addition, the terminal weaving has been gradually relieved with the high-temperature weather recently, and the starting load has continued to rise. The comprehensive starting rate of Jiangsu and Zhejiang looms is more than 71%. However, the willingness of weaving to stock up raw materials is difficult to reach the level of previous years even in the “Golden Nine Silver Ten” stock level. Therefore, the demand side of polyester remained flat, which led to the increased pressure on polyester factories to go to the warehouse, and it was difficult to effectively improve the commencement. On the whole, the downstream PTA price fell slightly, and the domestic paraxylene market price trend was temporarily stable.

Chen Ling, a PX analyst of the business community, believes that the current crude oil price is still supported, and the downstream construction of the terminal has risen slightly. Although the overall demand is expected to be good, the actual demand of the downstream has not risen much. It is expected that the market price of paraxylene will be stable in the later period, and there is no lack of a small upward trend.