On August 29, the PX commodity index was 56.00, unchanged from yesterday, down 45.31% from its peak of 102.40 points in the cycle (2013-02-28), and up 22.94% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).
According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 29th. Pengzhou Petrochemical Unit operated steadily in the field. Urumqi Petrochemical Unit started 50% of the operation, Fuhai Created Aromatic Hydrocarbon Unit started a line, CNOOC Huizhou Refinery and Chemical Unit overhauled, Hengli Petrochemical PX Unit put into operation, and other units operated steadily temporarily due to the introduction of new units. Domestic market supply of p-xylene is normal, and market price trend of p-xylene is temporarily stable. The opening rate of PX plant in Asia is about 80%. On August 28, the closing price of p-xylene in Asia increased by 3 US dollars/ton. The closing price is 765-767 US dollars/ton FOB in Korea and 784-786 US dollars/ton CFR in China. More than 50% of the domestic units need to be imported. The fluctuation of foreign prices has a certain impact on the domestic market price of p-xylene. The price trend of domestic p-xylene is temporarily stable.
| Thiourea |
On August 28, the price of WTI crude oil futures rose to $55.78 per barrel, an increase of $0.85. Brent crude oil futures rose to $60.49 per barrel, an increase of $0.98. The market’s worries about the prospect of oil demand continued to intensify. In a recent report issued by the Organization of Petroleum Exporting Countries (OPEC), the growth rate of global crude oil demand per day in 2019 is expected to be reduced from 1.5 million barrels to 1.1 million barrels. It is also expected that there will be a slight surplus in the oil market in 2020, and that the trend of crude oil prices will decline, which will have a negative impact on downstream petrochemical products and the market price of paraxylene. The trend of the latter is temporarily stable. Recently, the textile industry has maintained a low price, PTA price trend was temporarily stable on the 29th. The average price in East China was raised near 5100-5200 yuan/ton. By the 26th day, the domestic PTA start-up rate was about 94.5%, the polyester industry start-up rate was about 90%. The PTA social inventory was estimated at about 1.4 million tons. Affected by the shutdown and maintenance of the plant, it maintained in August as a whole. A small rhythm of de-warehousing. PTA factory inventory accounts for about 30%, polyester factory raw material inventory accounts for about 28%, downstream polyester factory has space to continue to replenish. Towards the traditional sales season of “Gold, Nine, Silver and Ten” for textiles, downstream terminal enterprises may usher in the procurement cycle and demand side will improve. It is expected that the price of PX market will remain volatile in the short term.
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