On June 13, the PX commodity index was 58.40, unchanged from yesterday, down 42.97% from its peak of 102.40 points in the cycle (2013-02-28), and up 28.21% 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 13th. Pengzhou Petrochemical Plant operated steadily in the field. Urumqi Petrochemical Plant started 50% of its operation. Fuhai Created Aromatic Hydrocarbon Plant started a line. CNOOC Huizhou Refinery and Chemical Plant overhauled. Hengli Petrochemical PX Plant went into operation. Other units operated steadily temporarily. Since the new plant was put into operation, the domestic market for p-xylene was normally supplied. The price trend of toluene market is stable for the time being. The opening rate of PX plant in Asia is about 80%. On June 12, the closing price of p-xylene in Asia dropped by 40 US dollars per ton. The closing price was 819-821 US dollars per ton FOB in Korea and 838-840 US dollars per ton CFR in China. More than 50% of domestic imports are needed. The decline of foreign prices has a negative impact on domestic market price of p-xylene. The price trend of p-xylene in the market is temporarily stable.
On June 12, the futures market price of WTI crude oil in July fell sharply to $51.14 per barrel, a decline of $2.13. The futures price of Brent crude oil in August dropped sharply to $59.97 per barrel, a decline of $2.32. The price of crude oil declined, losing some cost support to the price of downstream petrochemical products, and the price of paraxylene market stabilized temporarily. Recently, the textile industry has been stabilizing, PTA price has slightly declined on the 13th day. The average price in East China is raised near 5450-5600 yuan/ton. As of the 12th day, the domestic PTA start-up rate is about 88%, the polyester industry start-up rate is about 87.5%, and the downstream production and sales rate remains high. However, PTA market price shocks, and PX market price is expected to be low in the later period.
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