SunSirs: The Price of OX Increased in February, But the Support for the Increase in OX in March Was Insufficient

The price of OX increased in February

According to the Commodity Market Analysis System of SunSirs, as of February 29th, the price of OX was 8,100 RMB/ton, an increase of 1.25% compared to the price of OX on February 1st, which was 8,000 RMB/ton; On March 5th, the price of OX was 8,100 RMB/ton, which was stable compared to February 29th; Compared to February 1st, the price of OX had increased by 1.25%. During the Spring Festival, crude oil prices rose, but after the holiday, crude oil prices fluctuated and fell. Before the holiday, xylene prices fluctuated and fell. After the holiday, the prices of raw material xylene first rose and then fell, and the overall cost of OX increased; the price of PA fluctuated and rose, leading to a rebound in demand for OX and a rebound in demand due to rising costs. In February, the price of OX increased.

The price of raw material xylene had increased

According to the xylene commodity market analysis system of SunSirs, as of February 29th, the quoted price of xylene was 7,420 RMB/ton, an increase of 2.06% from the price of xylene on February 16th at 7,270 RMB/ton, and an increase of 1.09% from the price of xylene on February 1st at 7,340 RMB/ton; On March 5th, the price of xylene was 7,390 RMB/ton, a decrease of 0.40% from February 29th and an increase of 0.68% from February 1st. During the Spring Festival, crude oil prices surged, but after the holiday, crude oil prices fluctuated and fell. Naphtha prices followed suit, and the cost of xylene increased. After the holiday, crude oil and naphtha prices fluctuated and fell, while the price of xylene rose and fell. The support for the increase in cost of OX still existed, and the support for the decreased in cost of OX in the future.

Downstream price of PA increased

According to the market analysis system for PA products by SunSirs, as of February 29th, the quoted price of PA was 7,687.50 RMB/ton, an increase of 0.82% compared to the price of 7,625 RMB/ton on February 16th, and an increase of 0.82% compared to the price of 7,625 RMB/ton on February 1st; On March 5th, the price of PA was 7,587.50 RMB/ton, a decrease of 1.30% from February 29th and 0.49% from February 1st. During the Spring Festival, some facilities continued to shut down, and after the holiday, the domestic production rate of PA was around 60%. During the Spring Festival, inventory consumption on site was fast, and prices of PA manufacturers increased. With the resumption of production by PA manufacturers, the supply of PA increased, and demand was poor. As a result, the price of PA fell in March.

Market outlook

According to OX data analysts from SunSirs, during the Spring Festival, the crude oil market had surged, the raw material market had risen, the price of xylene had risen, and the cost of OX had increased significantly. Downstream PA manufacturers had decreased production, and the inventory of PA manufacturers was low. After the holiday, the PA market had rebounded, and the demand for OX had rebounded; After the Spring Festival holiday, crude oil prices fluctuated and fell, xylene fell from a high level, and demand was poor. In March, the price of PA fell. Overall, with rising costs and a rebound in demand, the price of OX rose in February. Crude oil prices had fallen, xylene prices had fluctuated and fallen, PA prices had fallen from high levels. The support for the rise in OX prices in March is insufficient, and it is expected that OX prices will fluctuate and fall in the future.

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