1、 Price trend
According to the bulk list data of business society, mixed xylene rose by a wide margin this week. On March 4, the price was 8290 yuan / ton; On Friday (March 11), the price was 8750 yuan / ton, up 5.55% from last week; Compared with the same period last year, it increased by 59.09%.
2、 Analysis and comment
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In the first half of the week, the international oil price continued to rise, the cost of mixed xylene rose, the downstream products rose significantly, and the mixed xylene industrial chain rose as a whole. Crude oil plummeted on Wednesday, down more than 10%, but mixed xylene just needs to be released downstream, and the superimposed cost support still exists, with a limited decline.
In the external market, the mixed xylene in the external market plunged after a wide shock this week. On Thursday (March 10), the price of mixed xylene imported from South Korea was US $1176.5/t, with a year-on-year decrease of US $2 / T, or 0.17%; The reference price of domestic imported mixed xylene was 1203 US dollars / ton, with a year-on-year increase of 6 US dollars / ton or 0.5%.
In terms of crude oil, international oil prices fluctuated sharply this week. At the beginning of the week, the tension between Russia and Ukraine escalated, the United States and European allies considered the embargo on Russian oil, the fear of supply tension intensified, crude oil continued to rise, and European and American crude oil futures rose to the highest since July 2008. On Wednesday, crude oil plunged by more than 10% due to market speculation that the United Arab Emirates and Iraq supported OPEC to further increase production. As of March 11, Brent fell $5.44 / barrel, or 4.61%; WTI fell $6.35/barrel, or 5.49%.
Downstream, in the PX market, the domestic PX price rose broadly this week. On Friday (March 11), the domestic ex factory price of p-xylene was 9500 yuan / ton, an increase of 11.76% over last week and 41.79% over the same period last year. Due to the rising downstream demand, the price trend of domestic p-xylene rose. As of the 10th, the closing price was US $1254-1256 / T FOB Korea and US $1272-1274 / T CFR China.
In terms of ox market, the price of ox in East China rose broadly this week. On Friday (March 11), the price of ox in East China was 9000 yuan / ton, up 15.38% from last week and 45.16% from the same period last year.
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In terms of gasoline, gasoline prices in Shandong rose first and then fell this week. The price was 9698.6 yuan / ton on March 4 and 9976 yuan / ton on March 11, up 2.86% from last week and 41.85% from the same period last year.
3、 Future forecast
In terms of crude oil, the influence of geopolitical situation still exists, but the market is concerned about whether OPEC will increase production. The trend of crude oil is full of uncertainty, and the short-term oil price fluctuates violently. Continue to pay attention to the geopolitical situation, the relationship between supply and demand of crude oil, OPEC + decisions on crude oil production, the inventory dynamics of US crude oil and refined oil, and the impact of global economic conditions on crude oil prices.
Mixed xylene and downstream industrial chain are mainly supported by the high level of crude oil, and the on-site demand maintains rigid demand. On the whole, the short-term mixed xylene will continue to fluctuate with the trend of crude oil. Pay attention to the market trend of crude oil, gasoline and diesel, the dynamics of mixed xylene ports and devices, and the impact of downstream market and device dynamics on the price of mixed xylene.
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