1、Price trend

According to the bulk list data of SunSirs, the price of xylene fell continuously after the festival. On April 1, the price was 7720 RMB/ton; On Friday (April 8), the price was 7420 RMB/ton, down 3.89% from last week; Compared with the same period last year, it increased by 35.65%.

2、 Analysis and comment

This week, the international crude oil mainly fell. Under the influence of domestic public health events, the logistics and transportation were not smooth, the shipment of enterprises was blocked, the overall mentality of  xylene market was poor, and the price mainly fell.

In terms of the external market, the external market xylene fell in shock this week. On Thursday (April 7), the price of  xylene imported from South Korea was US $1061.5/ton, with a year-on-year decrease of US $46 / ton, or 4.15%; The reference price of domestic imported  xylene was 1071 US dollars / ton, with a year-on-year decrease of 46 US dollars / ton, or 4.12%.

In terms of crude oil, it was reported within the week that the International Energy Agency planned to release 120 million barrels of crude oil reserves, the tightening of supply was expected to ease slightly, and the oil price fell as a whole. As of April 8, Brent fell $1.61 / barrel, or 1.54%; WTI fell $41.01/barrel, or 1.02%.

Downstream, in the PX market, the domestic PX price was stable this week. On Friday (April 8), the ex factory price of domestic p-xylene was 9300 RMB/ton, which was flat compared with last week and increased by 45.31% compared with the same period last year.

In terms of ox market, the price of ox in East China fell this week. On Friday (April 8), the price of ox in East China was 8600 RMB/ton, down 4.44% from last week and up 59.26% from the same period last year.

In terms of gasoline, the price of gasoline in Shandong fell this week. The price was 8775 RMB/ton on April 1 and 8628 RMB/ton on April 8, down 1.67% from last week and 24.39% from the same period last year.

3、 Future forecas

In terms of crude oil, the situation in Russia and Ukraine is full of uncertainty, and the EU may introduce a new round of sanctions against Russia, and the oil price support remains. However, the release of reserve plans by the United States and the International Energy Agency may curb the rise in oil prices. The short-term oil price fluctuates violently. Continue to pay attention to the geopolitical situation, the relationship between supply and demand of crude oil, OPEC + decisions on crude oil production, the inventory dynamics of US crude oil and refined oil, and the impact of global economic conditions on crude oil prices.

The crude oil price remains high in the short term, and the cost side support remains unabated; There are factories in Shandong to reduce the load and stop, the port inventory in East China is low, and the supply side has a certain positive support. However, the demand continues to be weak, the mentality of the industry is poor, and the price of  xylene is difficult to maintain, which is likely to continue to decline. Pay attention to the market trend of crude oil, gasoline and diesel, the dynamics of xylene ports and devices, and the impact of downstream market and device dynamics on the price of xylene.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.