According to the Commodity Market Analysis System of Shengyishe, the mixed xylene market has recently seen a high consolidation from April 16th to April 23rd. On April 23rd, the benchmark price of mixed xylene was 7910 yuan/ton, a slight decrease of 0.25% from 7930 yuan/ton on April 16th.
| Gamma Polyglutamic Acid |
International crude oil fluctuates and falls, mixed with xylene cost support weakening
Recently (4.16-4.23), due to the unexpected increase in US crude oil inventories, weakened demand expectations, and the suppression of conflict risk premiums, international crude oil prices have fluctuated and fallen, weakening support for the cost of mixed xylene. As of April 22, WTI06 contract settlement is 81.90 US dollars per barrel; Brent 06 contract settlement is $87.00 per barrel. The high prices of mixed xylene in Asia still provide support for the domestic market, with prices of heterogeneous grade xylene in Asia ranging from 980-981 US dollars per ton as of April 22.
Mixed xylene port inventory slightly decreases, supply pressure slightly alleviates
The inventory of mixed xylene at ports has slightly decreased, but the supply pressure remains at a high level. It is understood that as of April 18th, the total inventory of xylene in East and South China amounted to 71000 tons, which continued to decline compared to the previous period.
The production of xylene has significantly decreased, and the demand for mixed xylene is weak
The starting price of xylene has dropped to a high level, and PX units such as Urumqi Petrochemical, Hengli Petrochemical, and Ningbo Zhongjin have successively shut down for maintenance. Domestic PX production has significantly decreased, and as of April 22, PX production has slightly decreased to around 70%. The price of PX in the Asian outer market has slightly decreased, which still provides some support for the domestic PX market. As of April 22, the closing price in the Asian region was 1026 yuan/ton FOB South Korea and 1051 US dollars/ton CFR China.
The production of phthalic anhydride continues around 60%, and the demand for mixed xylene is stable, moderate, and weak
The domestic phthalic anhydride plant is running smoothly, and Anhui Tongling ortho phthalic anhydride is starting to be shipped normally. The 100000 ton phthalic anhydride plant of Xinyang Group is running steadily, and Shandong Hongxin phthalic anhydride is operating normally. Recently, the domestic phthalic anhydride operating rate is around 60%, and the spot supply of phthalic anhydride is normal. The production situation of phthalic anhydride manufacturers is average. Recently, the price of industrial naphthalene is stable, and the naphthalene phthalic anhydride market is mainly stable. As a result, the price of ortho phthalic anhydride has not changed much.
The domestic mixed blending market is recovering slowly, and the demand for mixed xylene continues to be weakly supported
The recovery of the domestic mixed blending market is slow, and the demand for mixed xylene is weak. As of April 18th, the operating rate of refineries nationwide has remained around 70%.
Expected decrease in supply of mixed xylene for planned maintenance of multiple devices
Jiangsu Xinhai Petrochemical’s aromatics were shut down for maintenance on April 7th. There are still plans for equipment maintenance in May and June, and overall, the supply of mixed xylene is expected to decrease in the later period, which provides some support for the mixed xylene market.
Future Market Forecast:
From a technical perspective, the mixed xylene index chart of Business Society shows that the 7-day moving average has been basically above the 30 day moving average since the beginning of the year, and is showing an upward trend. During this period, the price of toluene gradually increased; At present, the 7-day moving average is still above the 30 day moving average, and the price of mixed xylene is still supported by the 30 day moving average.
From a fundamental perspective, in the short term, the international crude oil market will consolidate at a high level, with some support for the cost of mixed xylene; Downstream PX and mixed blending industries saw a slight decline in production, while the phthalic anhydride industry saw a low level of production. The overall support for the demand for mixed toluene was weak; Multiple domestic devices are scheduled for maintenance in the later stage, and the supply of mixed xylene is expected to decline. Overall, it is expected that mixed xylene will slowly decline in the later stage.
| http://www.gammapolyglutamicacid.com |