On September 2, the PX commodity index was 52.80, down 0.4 points from yesterday, down 48.44% from the peak of 102.40 points in the cycle (2013-02-28), up 15.92% from the low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 3rd, Pengzhou Petrochemical Plant was running steadily, Urumqi Petrochemical Plant was started 50%, Fuhaichuang Aromatic Hydrocarbon Plant was started one line, CNOOC Huizhou Refinery and Chemical Plant was overhauled, Hengli Petrochemical PX Plant was put into operation, and other units were running steadily for the time being due to the introduction of new units. Domestic market supply of p-xylene is normal, and market price trend of p-xylene is temporarily stable. The opening rate of PX units in Asia is about 80%. On September 2, the closing price of p-xylene in Asia dropped by 8 US dollars/ton. The closing price is 759-761 US dollars/ton FOB in Korea and 778-780 US dollars/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 price trend of p-xylene in the market is stable for the time being.

On September 2, the price of WTI crude oil futures market in the United States was stable at $55.10 per barrel, up or down by $0. Brent crude oil futures fell to $58.66 per barrel, down by $0.59. The market’s worries about the prospect of oil demand continued to intensify. In a recent report issued by the Organization of Petroleum Exporting Countries (OPEC), the growth rate of global crude oil demand per day in 2019 is expected to be reduced from 1.5 million barrels to 1.1 million barrels. It is also expected that there will be a slight surplus in the oil market in 2020, and that the trend of crude oil prices will decline, which will have a negative impact on downstream petrochemical products and the market price of paraxylene. The trend of the latter is temporarily stable. Recently, the textile industry has maintained a low price, PTA price has been stable for 3 days. The average price of East China is raised near 5150-5250 yuan/ton. As of the 2nd day, the domestic PTA start-up rate is about 94.5%, the polyester industry start-up rate is about 90%. The PTA social stock is estimated to be about 1.4 million tons. Affected by the shutdown and maintenance of the plant, it maintained in August as a whole. A small rhythm of de-warehousing. PTA factory inventory accounts for about 30%, polyester factory raw material inventory accounts for about 28%, downstream polyester factory has space to continue to replenish. Towards the traditional sales season of “Gold, Nine, Silver and Ten” for textiles, downstream terminal enterprises may usher in the procurement cycle and demand side will improve. It is expected that the price of PX market will remain low in the short term.