1、 Price trend

According to the bulk list data of business society, mixed xylene fluctuated lower this week. On August 8, the price of mixed xylene was 5880 yuan / ton; On Sunday (August 15), the price was 5850 yuan / ton, down 30 yuan / ton or 0.51% from last week; Compared with the same period last year, it increased by 66.19%.

2、 Analysis and review

Affected by the epidemic, demand weakened again, coupled with the wide range of crude oil shocks during the week and the uncertainty of cost, the mentality of operators was empty and mixed xylene fell continuously. At present, the price of mixed xylene is mainly affected by crude oil and demand, and the external guidance is limited.

In terms of external market, as of August 13, the price of mixed xylene imported from South Korea was US $818.5/t, down US $1 / T or 0.24% month on month (MOM) on August 6; The reference price of domestic imported mixed xylene was $838 / T, up $4 / T or 0.48% month on month on August 6.

In terms of crude oil, the spread of delta virus has dragged down the market mentality, and the market is worried that the growth of demand will be restrained. However, the decline in U.S. crude oil and gasoline inventories led to a rebound in oil prices. It is reported that the number of active oil rigs in the United States this week increased by 10 compared with last week and 225 compared with the same period last year. On August 6, Brent fell by US $0.11/barrel, or 0.16%; WTI rose US $0.16/barrel, or 0.23%.

In the downstream PX market, the domestic PX price this week was flat compared with last week, at 7300 yuan / ton, an increase of 58.7% over the same period last year. As of August 12, the closing prices in Asia were USD 916-918 / T FOB Korea and USD 934-936 / T CFR China.

In terms of PTA market, PTA in East China fluctuated narrowly this week. On Friday (August 13), the price was 5330.91 yuan / ton, up 0.03% from last week and 46.58% from the same period last year.

In the ox market, the ox price leveled off this week. On Friday (August 13), the ox price in East China was 6300 yuan / ton, up 43.18% year-on-year.

3、 Future forecast

The trend of crude oil is full of uncertainty. Continue to pay attention to OPEC + production increase, U.S. crude oil and refined oil inventory data, global stock market and economic data, the latest epidemic situation and geographical situation.

The weak demand side is difficult to change, the trend of crude oil on the cost side is still uncertain, and mixed xylene is easy to fall but difficult to rise. Continue to pay attention to the trend of crude oil and external market, maintenance and inventory dynamics of mixed xylene unit and the impact of downstream demand on its price.