1、 Price trend

According to the data in the business club’s large list, the domestic market price of isomeric xylene fell sharply this week. As of Friday, the average domestic price was about 3110 yuan / ton, down 8.8% on last week.

2、 Analysis and comment

1. Products: The overseas epidemic continued to spread, worrying about the shrinking demand for crude oil caused by the economic recession. In addition, the international oil price generally maintained a sharp decline trend before Thursday. Affected by this, the domestic xylene price followed the sharp decline. After trump stepped in the oil price, Saudi Arabia and Russia successively stated that the crude oil production reduction agreement is turning around, the international oil price jumped sharply, and the domestic xylene price finally ushered in a bottoming out recovery At present, the mainstream price in East China is around 3600 yuan / ton.

2. Industrial chain:

Upstream, in terms of crude oil, the international oil price generally maintained a sharp decline trend before Thursday. After trump intervened in the oil price, Saudi Arabia and Russia successively stated that the crude oil production reduction agreement is turning around, and the international oil price jumped sharply. By Friday day, Brent fell 9.36%, Brent futures rose 16.32%, WTI futures rose 11.53%, and Dubai futures fell 14.34%.

Downstream, in PX market, this week, the price of domestic Sinopec’s enterprises is about 4300 yuan / ton, and the latest price on the outside market is about 456 US dollars / ton for FOB South Korea and 474 US dollars / ton for CFR China. It is expected that PX market price will fluctuate and rebound next week. In terms of PTA market, the spot market price of PTA in China is about 3400 yuan / ton, and the external market price is about 417 US dollars / ton CFR China. It is expected that PTA prices will stabilize and rebound next week. In the ox market, Sinopec’s price of o-benzene fell, with the price at 3800 yuan / ton. The external price of o-benzene is about 450 US dollars / ton fob in South Korea. It is expected that o-benzene will rebound in shock next week.

3、 Future forecast

According to xylene analysts from the chemical branch of business news agency, in the short term, trump is involved in the oil price. Saudi Arabia and Russia have made statements one after another. The crude oil production reduction agreement is now turning, and the technical impact is expected to usher in a shock rebound. In the medium term, it depends on the demand side, when the inflection point of the epidemic occurs and the progress of economic recovery. Next week, we will continue to focus on the news of OPEC + production reduction agreement, worries about global economic recession due to the continuous spread of overseas epidemic, international crude oil trend and the progress of downstream enterprises’ resumption of work. On the whole, it is expected that the price of xylene in the international crude oil market and the Korean market will gradually fluctuate and stabilize next week. In addition, the domestic enterprises will gradually enter the resumption period, and the market demand will gradually improve. In the next week, the price of xylene in the domestic market will fluctuate and stabilize. However, in the environment of high inventory of xylene industry and the industrial chain recovery is not smooth, it is not optimistic to expect the rebound range.