On September 26, the PX commodity index was 52.80, unchanged from yesterday, down 48.44% from its peak of 102.40 points in the cycle (2013-02-28), and up 15.92% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).
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According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 26th. Hongrun 600,000 tons new plant was running steadily, Pengzhou Petrochemical Plant was running steadily, Urumqi Petrochemical Plant was started 50%, Fuhaichuang Aromatic Hydrocarbon Plant was starting a line, CNOOC Huizhou Refinery and Chemical Plant was overhauled, Hengli Petrochemical PX Plant was put into operation, and other units were running steadily. Temporarily stable operation, due to the normal domestic market supply of p-xylene, the market price trend of p-xylene is temporarily stable. The opening rate of PX plant in Asia is about 80%. On September 25, the closing price of p-xylene in Asia dropped by 7 US dollars per ton. The closing price is 779-781 US dollars per ton FOB in Korea and 798-800 US dollars 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. However, the domestic market price trend is temporarily stable.
On September 25, the price of WTI crude oil futures fell to $56.49 per barrel, a decline of $0.80. Brent crude oil futures fell to $62.39 per barrel, a decline of $0.71. According to data from the U.S. Energy Information Agency (EIA), as of September 20, U.S. crude oil stocks, excluding strategic oil reserves, were lower. The increase of 2.4 million barrels in the previous week resulted in a decline in crude oil prices, which had a negative impact on downstream petrochemical products, and a slight decline in Xylene prices. Recent textile industry volatility, PTA market start-up rate maintained high, PTA price trend slightly lower, the average price of East China in the vicinity of 5100-5200 yuan/ton, up to 24 domestic PTA start-up rate is about 90%, polyester industry start-up rate is about 89%, due to PTA supply increase, trading atmosphere is general, buy-out trade. Traders mainly, sporadic polyester factories follow-up, affected by crude oil price shocks downstream PTA market prices remain low, is expected to maintain PX market prices in the short term or 6600 yuan/ton.
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