On April 17, the PX commodity index was 67.20, unchanged from yesterday, down 34.38% from its peak of 102.40 points in the cycle (2013-02-28), and up 47.53% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

Recently, the domestic market price trend of p-xylene has been temporarily stable. Pengzhou Petrochemical Plant has been running steadily in the field. Urumqi Petrochemical Plant has started 50% of its operation. Fuhai Aromatic Hydrocarbon Plant has started a line. CNOOC Huizhou Refinery and Chemical Plant has been overhauled. Hengli Petrochemical PX Plant has been put into operation. Other units have been running steadily for the time being. Due to the increase of domestic market supply of p-xylene, the market for p-xylene has increased. Price trend is stable for the time being. The opening rate of PX plant in Asia is about 80%. On April 17, the closing price of p-xylene in Asia dropped by 38 U.S. dollars per ton. The closing price is 987-989 U.S. dollars per ton FOB Korea and 1006-1008 U.S. dollars per ton CFR in China. More than 50% of the domestic units need to be imported. The sharp decline in foreign prices has a negative impact on the domestic market price of p-xylene. Steady.

On April 17, the price of WTI crude oil in June fell to $63.76 per barrel, a decline of $0.29. Brent crude oil in June fell to $71.62 per barrel, a decline of $0.10. The price of crude oil declined slightly, losing some cost support for the price of downstream petrochemical products, and the price of p-xylene market stabilized temporarily. Recent textile industry market shocks, PTA price trend shocks on the 18th, the average price of East China bid in the vicinity of 6700-6850 yuan/ton, as of the 17th domestic PTA start-up rate is about 80%, polyester industry start-up rate is about 90%, downstream production and sales rate maintained high, but PTA market price changes little, it is expected that PX market prices will remain stable in the later period.

On April 16, the PX commodity index was 67.20, unchanged from yesterday, down 34.38% from its peak of 102.40 points in the cycle (2013-02-28), and up 47.53% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

Recently, the domestic market price trend of p-xylene has been temporarily stable. Pengzhou Petrochemical Plant has been running steadily in the field. Urumqi Petrochemical Plant has started 50% of its operation. Fuhai Aromatic Hydrocarbon Plant has started a line. CNOOC Huizhou Refinery and Chemical Plant has been overhauled. Hengli Petrochemical PX Plant has been put into operation. Other units have been running steadily for the time being. Due to the increase of domestic market supply of p-xylene, the market for p-xylene has increased. Price trend is stable for the time being. The opening rate of PX plant in Asia is about 80%. On April 16, the closing price of p-xylene in Asia dropped by 14 US dollars per ton. The closing price is US$1025-1027 per ton FOB in Korea and US$1044-1046 per ton CFR in China. More than 50% of the domestic units need to be imported. The decline of foreign prices has a negative impact on the domestic market price of p-xylene. The market price of p-xylene in Asia is stable temporarily.

On April 16, the price of WTI crude oil in June fell to $63.40 per barrel, a decline of $0.49. Brent crude oil in June fell to $71.18 per barrel, a decline of $0.37. The price of crude oil declined slightly, losing some cost support for the price of downstream petrochemical products, and the price of p-xylene market stabilized temporarily. Recent textile industry volatility, PTA prices rose slightly on the 17th. The average price in East China was raised near 6700-6850 yuan/ton. As of the 16th day, the domestic PTA start-up rate was about 80%, the polyester industry start-up rate was about 90%, and the downstream production and sales rate maintained a high level. However, PTA market prices did not change much. It is expected that the price of PX market will remain stable in the later period.

On April 15, the phthalic anhydride commodity index was 63.91, down 0.81 points from yesterday, down 46.80% from the peak of 120.13 points in the cycle (2012-02-28), and up 31.99% from the low of 48.42 points on January 21, 2016. (Note: Period refers to 2011-09-01 to date).

Recently, the domestic market price of phthalic anhydride has maintained a low trend, the market of phthalic anhydride and phthalic anhydride in eastern China has weakened, downstream factories have just needed to purchase, factory inventory pressure has continued, high-end transactions have been blocked, the mainstream of on-site neighbouring source negotiations is 6500-6600 yuan/ton, and the mainstream of naphthalene source negotiations is 6300 yuan/ton; the mainstream quotation of phthalic anhydride market in North China is 6400-6600 yuan/ton, and the market weak The price of phthalic anhydride in China is stable, the spot supply of phthalic anhydride is normal, the market is not good, and the price of phthalic anhydride is declining.

Recently, the executive price of the upstream product of phthalic anhydride, Sinopec o-phthalic anhydride, is 6700 yuan/ton. The actual transaction price in the market is 6700 yuan/ton. The quotation is stable and the port market is general. The upstream raw material mixed xylene price is stable, the turnover of phthalic anhydride is general, the stock of phthalic anhydride in port is low, the price of phthalic anhydride is temporarily stable, the cost of imported phthalic anhydride is rising, the actual transaction price is discussed in detail, the upstream price trend is stable, and the market price of phthalic anhydride remains weak. DOP prices in the downstream are lower. Recently, in the DOP market in Zhejiang, merchants’quotations have maintained 8200-8300 yuan/ton, while downstream prices have slightly declined. Demand for upstream phthalic anhydride is limited, and the market price of phthalic anhydride is slightly lower. It is expected that the market price of phthalic anhydride in the later period will be around 6550 yuan/ton.

Price trends:

2. Market analysis:

Domestic market: This week, domestic crude benzol market prices rose, the mainstream quotation at 3200-3600 yuan/ton, up about 300 yuan/ton. As of Friday, the ex-factory price of crude benzene in Shandong was around 3500 yuan/ton. Negotiations are general and deals are limited. In terms of market, Shandong Province has 3500-3520 yuan/ton and Shanxi Province 3250-3380 yuan/ton.

Industry chain: pure benzene aspect this week’s oil benzene market as a whole horizontal consolidation. In the domestic market, inventory declines slowly, and some reservoirs are still full of tanks. Since Wednesday, domestic pure benzene prices have been rising, Sinopec Group’s pure benzene price has been raised by about 100 yuan/ton, Sinopec Group’s pure benzene price has been raised by about 150 yuan/ton, and Korea’s pure benzene reference price has risen by about 10 dollars/ton, and the import reference price in East China has been basically stable. Hydrobenzene: The market price of hydrobenzene rose this week. As of April 12, Shandong mainstream quotation ranged from 4150 to 4250 yuan/ton, while East China mainstream quotation ranged from 4350 to 4450 yuan/ton. Hydrobenzene is depressed by the rising price of crude benzene, the cost pressure increases, the pressure of shipment of hydrobenzene enterprises increases, and the turnover is limited.

3. Trend forecast:

In recent days, there has been no significant improvement in downstream demand, crude benzene short-term forecast is mainly small consolidation.

Price Trend

The propane market continued to rise this week. At the beginning of the week, the average market price of propane was 4450 yuan/ton, and at the end of the week, it was 4527.5 yuan/ton. Within the week, the price rose by 1.74%, which was 9.41% higher than that of the same period last year.

II. Analysis of Influencing Factors

Products: This week, the propane Market in China has risen, and the trading atmosphere is good. As of April 12, propane from Dongming Petrochemical Company of Shandong Province has not been quoted for the time being. The ex-factory price of propane in Tianjin Bohai Chemical Industry Group is 4600 yuan/ton, that in Shandong Haiyou Petrochemical Group is 4580 yuan/ton, that in Shandong Huifeng Petrochemical Company is 4550 yuan/ton, that in Shandong Hengyuan Petrochemical Company is 4550 yuan/ton, and that in Shandong Binzhou Dayou Group is 4450 yuan/ton. The ex-factory price of propane in Shandong Zhonghai Fine Chemical Co., Ltd. is 4440 yuan/ton, while that in Sinopec Qingdao Refinery and Chemical Co., Ltd. is 4440 yuan/ton.

Industry Chain: The domestic liquefied gas market rose broadly this week, with an average price of 4263.33 yuan/ton at the beginning of the week and 4410 yuan/ton at the end of the week, up 3.44% in the week and 15.73% over the same period last year. The domestic propylene (East China) market rose first and then stabilized this week. At the beginning of the week, the average domestic propylene (East China) market price was 7150 yuan/ton, and the weekend average price was 7226 yuan/ton. Within the week, the increase was 1.21%, and the price fell 13.1% compared with the same period last year. This week, international oil prices continued to rise, the trend is strong, boosting the market mentality. In addition, at present, some domestic refineries are still in the state of overhaul, low supply and good support effect is obvious, downstream buy-up and not buy-down mentality into the market is positive. The manufacturer has good delivery and no pressure on stock.

Industry: According to the price monitoring of business associations, in the 14th week (4.8-4.12) of 2019, there were 27 kinds of commodities rising annually in the chemical sector, of which 4 commodities increased by more than 5%, accounting for 5.5% of the monitored commodities in the sector; the first three commodities were hydrochloric acid (44.90%), ammonium chloride (15.39%) and polyaluminium chloride (6.91%). There are 22 kinds of commodities with a decline of more than 5%, accounting for 4.1% of the monitored commodities in this sector. The products with the first three declines are sulphuric acid (-6.62%), caustic soda (-5.86%) and polycrystalline silicon (-5.38%). This week’s average rise and fall was 0.9%.

3. Future Market Forecast

Propane analysts at business associations believe that prices have risen continuously to high levels, with some downstream mostly on the sidelines. Terminal consumption is slow, but also somewhat constrained. It is expected that the adjustment of future market highs will be dominant.