On March 1, the PX commodity index was 50.40, the same as yesterday, down 50.78% from 102.40 (2013-02-28), the highest point in the cycle, and up 10.65% from 45.55, the lowest point on February 15, 2016. (Note: cycle refers to 2013-02-01 to now).

According to statistics, the market price trend of p-xylene in China has declined slightly, the operation of new 600000 ton plant in Hongrun is stable, the operation of petrochemical plant in Pengzhou is stable, 50% of petrochemical plant in Urumqi has been started, one line of aromatics plant in Fuhai Chuang has been started, CNOOC Huizhou refining and chemical plant has been overhauled, the PX plant in Hengli Petrochemical has been put into operation, the operation of other units is stable temporarily, and the domestic p-xylene plant has been opened The working rate is about 70%, the domestic market supply of p-xylene is normal, but the recent trend of crude oil price falls, and the market price of p-xylene is affected. The operating rate of PX plant in Asia is about 80%. On February 28, the closing price of PX market in Asia dropped by 19 US dollars / ton, and the closing price was 667-669 US dollars / ton fob in South Korea and 687-689 US dollars / ton CFR in China. More than 40% of PX in China needs to be imported. The decline of external price has a certain positive impact on the market price of PX in China, and the market price trend of PX dropped.

WTI crude oil futures market in the U.S. continued the previous four trading days. The price continued to fall, with a large drop. The main contract was 44.76 yuan / barrel, down $2.44. Brent crude oil futures market price also continued to fall sharply, with the main contract at $49.67/barrel, down $2.06. The decline of crude oil price was negative for domestic chemical products price, and the trend of domestic p-xylene price fell.

In terms of PTA in the lower reaches, the price has been slightly reduced to 4200-4300 yuan / ton in the near future, but due to seasonal and epidemic impact, PTA social inventory has increased sharply. It is understood that the current social inventory has exceeded 2 million tons, an increase of about 500000 tons compared with that before the festival. In recent days, the market is worried again, and the PTA period price has begun to be explored twice. At present, the terminal weaving enterprises return to work less than expected, and the inventory pressure is transmitted to all links of the industry chain from the bottom to the top. The contradiction between PTA supply and demand is more prominent. In the later stage, it will still present a weak pattern, and the downstream construction is generally delayed. In addition, PTA supply remains relatively resilient, so that the market accumulation exceeds expectations, and PTA market price returns The price trend of p-xylene declined.

In recent years, the trend of crude oil price continues to decline, which has a certain negative impact on the xylene market. In addition, the downstream demand of the terminal has not improved significantly. Business analysts believe that PX market price may be slightly lower.