On September 11, the PX commodity index was 52.80, unchanged from yesterday, down 48.44% from its peak of 102.40 points in the cycle (2013-02-28), and up 15.92% from its 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 11th. 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 starting a line, CNOOC Huizhou Refinery and Chemical Plant was overhauled, Hengli Petrochemical PX Plant was put into operation, and other units were running 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 in Asia rose by 2 US dollars/ton on September 10. The closing price is 770-772 US dollars/ton FOB in Korea and 789-791 US dollars/ton CFR in China. More than 50% of the domestic units need to be imported. The rise of foreign prices has a positive impact on the domestic market price of p-xylene. The price trend of p-xylene in the market is stable for the time being.
On September 10, the price of WTI crude oil futures fell to $57.40 per barrel, a decline of $0.45. Brent crude oil futures fell to $62.38 per barrel, a decline of $0.21. OPEC’s crude oil production rose slightly by 50,000 barrels per day in August to 29.93 million barrels, but still reached 1.2 million in OPEC, Russia and other EU countries. In the barrel/day yield reduction agreement, the decline of crude oil price has a negative impact on downstream petrochemical products, and the price trend of xylene market is temporarily stable. Recently, the textile industry has maintained a low price, PTA prices rose slightly on the 11th. The average price in East China was raised near 5300-5400 yuan/ton. As of the 10th day, the domestic PTA start-up rate was about 97% and the polyester industry start-up rate was about 90%. Due to the limited support of planned overhaul to the market rebound, the trading atmosphere declined. Traders dominate, sporadic polyester factories follow-up, downstream PTA market prices maintain low volatility, and it is expected that PX market prices will maintain low volatility in the short term.
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