Domestic price trend:

It can be seen from the figure that the ex factory price of paraxylene remained stable at 7100.00 yuan by the end of July, and the domestic price of paraxylene remained stable at 7100.00 yuan by the end of July.

In July, the domestic p-xylene supply was normal, and the domestic PX operating rate was more than 60%. The 600000 ton unit of Sinochem Hongrun petrochemical, Yangzi Petrochemical, Pengzhou petrochemical, Yangzi Petrochemical, Jinling Petrochemical, Qingdao Lidong and Qilu Petrochemical operated stably, The start-up of Urumqi petrochemical unit is about 50%, and the domestic p-xylene supply is general, but the start-up of overseas units is general, and the domestic p-xylene price remains high affected. Recently, the international crude oil price is above $70 / barrel, and the PX external price trend rises. As of the 28th, the closing prices in Asia are $928-930 / ton FOB Korea and $946-948 / ton CFR China. Recently, the operating rate of PX units in Asia is normal. On the whole, the operating rate of p-xylene units in Asia is less than 60%, the supply of PX goods in Asia is general, and the closing price of PX external price rises, Affected by the external price, the domestic p-xylene market price trend is temporarily stable.

The international crude oil price fluctuated at a high level in July. Although the epidemic situation has been controlled to a certain extent, the spread of Indian variant virus has led to an increase in market risk aversion, which has limited the recovery of crude oil demand in certain procedures. Although the policy boots of OPEC + oil producing countries finally came to the ground, the oil ministers of oil producing countries agreed on Sunday to increase oil supply from August. With the continuous recovery of the global economy, the oil price had climbed to a two-and-a-half-year high. The increase in production policy was aimed at curbing the rising trend of oil price, which led to the market’s concern about excess oil supply, but the macro mood was good in the later stage, The oil price continued to return to its own supply of crude oil, which was relatively tight, and the oil price picked up. As of July 28, the settlement price of the main contract in the WTI crude oil futures market in the United States was US $72.39/barrel, and the settlement price of the main contract in the Brent crude oil futures market was US $73.87/barrel. In July, the international crude oil price remained high, and the price trend of p-xylene was temporarily stable.

In July, the price trend of downstream PTA market rose sharply. As of No. 29, the average price of PTA market was 5400-5450 yuan / ton, up 7.46% in July. The shortage of supply is the key factor affecting the current PTA market trend. The PTA capacity in Zhejiang is 18.35 million tons, while the polyester capacity in the region is 29 million tons. Therefore, there is a large gap between supply and demand in Zhejiang. With the maintenance of Huabin petrochemical and other units in Zhejiang, the warehouse has been continuously removed since March, and there is little left in PTA delivery warehouse in Zhejiang. Recently, the operating rate of the whole industry has decreased slightly, which is currently around 80%. In the terminal textile market, due to the improvement of downstream fabrics in autumn and winter, early preparation and better expectation in the second half of the year, in fact, the weaving end has already begun to rebound. At present, the operating load rate is at a high level in recent years. At present, the comprehensive starting rate of looms in Jiangsu and Zhejiang is 79.63%, and the market price trend of p-xylene is temporarily stable.

Chen Ling, PX analyst of business agency, believes that there is a certain positive support for the current crude oil cost. In the short term, the crude oil price will maintain an upward trend, but the downstream polyester will improve. In addition, the textile industry will usher in the peak sales season. It is expected that the market price trend of p-xylene will rise slightly in the later stage, boosted by crude oil.