Domestic price trend:

From the trend chart of para xylene, it can be seen that the price trend of para xylene has remained stable this week. As of the weekend, the domestic ex factory price of para xylene was 8300 yuan/ton, which is the same as the price of 8300 yuan/ton at the beginning of the week, with a year-on-year increase of 11.41%.

The domestic supply of xylene is relatively normal, with a domestic PX operating rate of over 80%. A 750000 ton unit of Pengzhou Petrochemical has restarted, but some units are still undergoing maintenance, and spot supply is normal. This week, the international crude oil price trend has fluctuated, and the external PX price has not changed much. As of the 14th, the closing price in Asia is 944-946 yuan/ton FOB Korea and 969-971 US dollars/ton CFR China. Recently, the operating rate of PX units in Asia has remained high. Overall, the operating rate of xylene units in the Asian region is nearly 80%. The supply of PX goods in the Asian region is normal. Recently, crude oil prices have fallen first and then increased, and the trend of crude oil is fluctuating. The domestic xylene market prices are temporarily stable.

In recent times, the international crude oil price trend has dropped first and then increased. As of the 14th, the settlement price of the main contract of WTI crude oil futures in the United States was reported at $71.58 per barrel; The settlement price of Brent crude oil futures main contract is 76.61 yuan/barrel. The unexpected increase in CPI data and the rebound in inflation have lowered market expectations for the Federal Reserve’s interest rate cut at the beginning of next year; The crude oil market has shown a downward trend due to market concerns about oversupply. Previously, there was a oversold in the market, with the weakening of the US dollar driving up oil price valuations. Coupled with the International Energy Agency (IEA) raising its forecast for next year’s oil demand, the oil market was boosted. Overall, the crude oil price range fluctuated, and the domestic para xylene market prices remained weak.

The domestic PTA spot market has slightly declined, with an average price of 5657.5 yuan/ton in the East China market as of the weekend, a 1.52% decrease from the price of 5745 yuan/ton at the beginning of the week. From the recent changes in PTA equipment, it can be seen that the PTA equipment has been operating relatively steadily this week, with an industry operating rate of around 86%. The downstream polyester production load is 87%, and cost support is weakening. The polyester filament market is cautious and cautious, with the consumption of early raw material stocking as the main focus, resulting in a stalemate in transaction focus. The trading atmosphere in the short fiber market is light, with many traders offering discounts on prices, and customers from yarn factories have limited orders and low purchasing willingness. The operating rate of Jiangsu and Zhejiang weaving has moderately decreased to around 75%, coupled with low profits from raw fabrics, it is expected that a small amount of raw materials will be purchased at a low price by the end of the month. The unfavorable downstream market is bearish for the xylene market, and the PX market trend is temporarily stable.

Chen Ling, an analyst at Business Society PX, believes that there is not much change in the domestic PX supply. The upstream crude oil market is a long short game, and overall, crude oil prices are mainly fluctuating in the range. In the early stages of downstream PTA maintenance equipment, new equipment is being restarted and put into operation. With the decrease in downstream polyester production load, the PTA market is under pressure, and it is expected that the terminal’s sustained replenishment may be difficult to sustain. It is expected that the price trend in the xylene market will remain stable in the later stage.