1、 Price trend
The domestic isomeric xylene market fell sharply this week, down 6.93% as of Friday, according to the data in the business club’s bulk list.
2、 Analysis and comment
1. Product: during last week’s long holiday in China, the overseas market was worried about the impact of the global new crown virus epidemic on oil demand, resulting in a sharp drop in the price of international crude oil market. Affected by this, the price of isomeric xylene in the domestic market fell sharply this week. At present, the mainstream price in East China is about 5300 yuan / ton.
2. Industrial chain:
Upstream, in terms of crude oil, worried about the impact of the global new crown virus epidemic on oil demand, the international oil price this week showed an overall trend of shock and anti decline. As of Friday, Brent fell 4.76% at sight, Brent futures fell 4.80%, WTI futures fell 1.04% and Dubai futures fell 5.59%.
In terms of downstream, PX market and PX market, the price of domestic market this week followed the make-up drop, which is about 6300 yuan / ton at present, and the latest price of external market is about 718 US dollars / ton FOB South Korea and 738 US dollars / ton CFR China. It is expected that the price of PX market will maintain 6300 yuan / ton next week. In terms of PTA market, the price of external market is about 575 US dollars / ton, while the price of domestic PTA spot market follows the price to make up the decline. At present, it is about 4400 yuan / ton, and it is expected that PTA market will remain weak in the short term. In the ox market, Sinopec’s price of o-benzene was flat, at 5800 yuan / ton, and the price of o-benzene was about US $880 / ton. It is expected that the trend of o-benzene in the future will be stable.
3、 Future forecast
Xylene analysts from the chemical branch of business society think: next week, we will continue to focus on the trend of crude oil. On the whole, as the resumption of work is approaching, it is expected that the toluene market will experience a small shock rebound trend next Tuesday.