SunSirs: Limited Support, OX Prices Remained Stable This Week
May 10 2024 15:02:45 SunSirs (John)
The market for OX remained stable this week
According to the commodity market analysis system of SunSirs, as of May 9th, the price of OX was 8,300 RMB/ton, which was temporarily stable compared to the price of OX at 8300 RMB/ton on May 1st. The industrial chain support was limited, and the OX market remained stable this week.
The price of xylene fell weakly, and the cost support for OX was limited this week; the price of PA had slightly decreased, and the demand for OX was insufficient, with limited cost and demand support. The price of OX had temporarily stabilized this week.
The price of xylene raw material had slightly decreased
According to the xylene commodity market analysis system of SunSirs, as of May 9th, the quoted price of xylene was 7,600 RMB/ton, a decrease of 1.04% from the price of xylene at 7,680 RMB/ton on May 1st. The high price of crude oil had fallen, and the cost of xylene had decreased; Downstream enterprises were experiencing an increase in maintenance, resulting in weak demand for xylene. In the second quarter, some xylene equipment had maintenance plans, and the supply of xylene is expected to decrease. Both supply and demand had declined, and xylene had significant downward pressure and insufficient upward support.
Downstream PA market slightly declined
According to the market analysis system for PA products by SunSirs, as of May 9th, the quoted price of PA was 7,700 RMB/ton, a decrease of 0.26% compared to the price of PA on May 1st, which was 7,720 RMB/ton. In May, PA continued its downward trend in late April and slightly declined. Cost support was insufficient, the price of PA stabilized; The demand was poor, and the price of PA was weak and tended to stabilize. The high price of PA produced with naphthalene method had fallen, and the support for the rise of PA produced by OX had weakened.
Market outlook
According to analysts from SunSirs' OX data, in terms of cost, the price of xylene had slightly decreased, and the pressure of OX cost decline still existed; In terms of supply and demand, the supply of OX was tight and the demand was weak, with insufficient support for the rise of OX. Overall, there is insufficient supply and demand support for cost reduction, and there is still downward pressure on the OX market in the future.
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