On September 5, the PX commodity index was 52.80, unchanged from yesterday, down 48.44% from the peak of 102.40 points in the cycle (2013-02-28), and up 15.92% from the low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).
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According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 5th day. Hongrun 600,000 tons new plant was running steadily, Pengzhou Petrochemical Plant was running steadily, Urumqi Petrochemical Plant was started 50%, Fuhaichuang Aromatic Hydrocarbon Plant was started one line, CNOOC Huizhou Refinery and Chemical Plant was overhauled, Hengli Petrochemical PX Plant was put into operation, and other units were operated steadily. Temporarily stable operation, due to the normal domestic market supply of p-xylene, the market price trend of p-xylene is temporarily stable. The opening rate of PX plant in Asia is about 80%. The closing price of p-xylene market in Asia is stable on September 4. The closing price is US$758-760/ton FOB Korea and US$777-779/ton CFR China. More than 50% of the domestic units need to be imported. The low fluctuation of foreign prices has a negative impact on the domestic market price of p-xylene. The price trend of domestic p-xylene is temporarily stable.
On September 4, the price of WTI crude oil futures rose to $56.26 per barrel, an increase of $2.32. Brent crude oil futures rose to $60.70 per barrel, an increase of $2.44. According to the latest data released by EIA last Friday, the daily output of oil in the United States fell to 12.82 million barrels in June, down 33,000 barrels from May. Although the decline is not significant, it is still falling, and the trend of crude oil price is rising, which has a positive impact on downstream petrochemical products and a temporary stable price trend for xylene. Recently, the textile industry has maintained a low price, PTA price trend is temporarily stable on the 5th day. The average offer price in East China is raised near 5200-5300 yuan/ton. As of the 4th day, the domestic PTA start-up rate is about 94.5% and the polyester industry start-up rate is about 90%. Due to the limited support for the market rebound by the planned overhaul, the trading atmosphere has declined and the purchase price is based on trade. Business mainly, sporadic polyester factories follow-up, downstream PTA market prices maintain low volatility, PX market prices are expected to maintain low volatility in the short term.
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