On October 29, the PX commodity index was 54.40, unchanged from yesterday, down 46.88% from 102.40 (2013-02-28), the highest point in the cycle, and up 19.43% from 45.55, the lowest point on February 15, 2016. (Note: cycle refers to 2013-02-01 to now).

According to statistics, on the 29th, the domestic market price trend of p-xylene was temporarily stable, the operation of new 600000 ton plant in Hongrun was stable, the operation of petrochemical plant in Pengzhou was stable, 50% of petrochemical plant in Urumqi was started, one line of aromatics plant in Fuhai Chuang was started, CNOOC Huizhou refining and chemical plant was overhauled, the PX plant in Hengli Petrochemical was put into operation, and other units were temporarily stable. As the new plant was put into operation, domestic The market supply of xylene is normal, and the market price trend of p-xylene is stable temporarily. The operating rate of PX plant in Asia is about 80%. On October 28, the closing price of p-xylene market in Asia was stable. The closing price was 777-779 US dollars / ton fob in South Korea and 797-799 US dollars / ton CFR in China. More than 50% of domestic products needed to be imported. The fluctuation of external market price had a certain negative impact on domestic market price of p-xylene, but the domestic market price trend was temporarily stable.

On October 28, WTI crude oil futures market price in the United States fell to US $55.81/barrel, or US $0.85, while Brent crude oil futures price fell to US $61.57/barrel, or US $0.45, and the number of drilling rigs in the United States dropped sharply. Baker Hughes’ data shows that this week, the number of drilling rigs decreased by 21 to 830, 238 less than 1068 a year ago, and the number of land drilling rigs decreased by 20, a total of 807. The number of drilling rigs in inland waters remained unchanged at 2, and the number of offshore drilling rigs decreased by 1, a total of 21. Crude oil price rose slightly, which had limited cost support impact on downstream petrochemical products, and domestic p-xylene price trend was stable. In recent years, the textile industry market has been volatile, the PTA Market operating rate has declined, and the PTA price trend has remained low. The average offer price in East China is around 4900-5000 yuan / ton. As of the 28th day, the domestic PTA operating rate is about 84.5%, and the polyester industry operating rate is about 88%. Due to the sufficient supply in PTA field and the general transaction atmosphere, the purchase is dominated by traders, followed by sporadic polyester factories, and affected by the original oil price. The price of PTA in the downstream market is slightly lower due to grid shock, and it is expected that PX market price will maintain 6800 yuan / ton in the short term.