The price of OX dropped this week

According to the Commodity Market Analysis System of SunSirs, as of May 18th, the price of OX was 8,100 RMB/ton, a decrease of 200 RMB/ton or 2.41% compared to the price of OX at 8,300 RMB/ton on May 11th last week. Crude oil prices had risen, xylene prices stopped falling, downstream PA prices rebounded and rose, and the OX industry chain rebounded. This week, the price of OX fluctuated and fell, and in the future, the OX market may rebound and rise.

The decline of raw material xylene market slowed down this week

According to the market analysis system of xylene products in SunSirs, as of May 18th, the price of xylene was 7,380 RMB/ton, a decrease of 200 RMB/ton or 2.64% compared to the price of 7,580 RMB/ton on May 11th last week; The price of xylene decreased by 5.75% compared to 7,830 RMB/ton on May 1st. The price of xylene fluctuated and decreased, while the price of crude oil fluctuated and increased. The downward pressure on xylene in the future will weaken, and the cost support for OX will increase. The downward pressure on OX market will weaken.

Downstream PA market rebounded and rose

According to the market analysis system of PA products in SunSirs, as of May 18th, the quotation for PA produced by OX method was 8,125 RMB/ton, an increase of 2.20% compared to the price of PA on May 11th, which was 7,950 RMB/ton. This week, the price of PA rebounded and increased, and  export increased. The price of PA produced by naphthalene method increased, while the price of PA produced by OX method increased. The market for PA also increased, and the upward momentum of OX market had increased.

Market outlook

Analysts from SunSirs’ OX data believe that the price of xylene fell this week, while downstream PA prices stopped falling and rebounded to rise. The OX industry chain rebounded, and the downward pressure on the OX market weakened. The OX prices fluctuated and fell. Crude oil prices rose, xylene support increased, and cost support for OX increased. Exports increased, the price of PA increased, downstream demand rebounded, and the driving force for the rise of OX had increased. Overall, the cost of OX will increase in the future, and demand will rebound. It is expected that the price of OX may stop falling and rise in the future.

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