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).
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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.
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