On November 27, the PX commodity index was 54.40, unchanged from yesterday, down 46.88% from 102.40 (2013-02-28), the highest point in the cycle, and up 19.43% from 45.55, the lowest point on February 15, 2016. (Note: cycle refers to 2013-02-01 to now).

According to statistics, in recent years, the domestic market price trend of p-xylene has remained volatile, the operation of new 600000 ton plant in Hongrun is stable, the operation of petrochemical plant in Pengzhou is stable, 50% of petrochemical plant in Urumqi has been started, one line of aromatics plant in Fuhai Chuang has been started, CNOOC Huizhou refining and chemical plant has been overhauled, the PX plant in Hengli Petrochemical has been put into operation, the operation of other plants is stable temporarily, and the domestic p-xylene plant has been installed The operating rate is about 70%. Due to the normal supply of domestic p-xylene market when the new unit is put into operation, the market price trend of p-xylene remains low and fluctuates. The operating rate of PX plant in Asia is about 80%. On November 26, the closing price of p-xylene market in Asia dropped by 4 dollars / ton, and the closing price was 769-771 dollars / ton fob in South Korea and 790-792 dollars / ton CFR in China. About 50% of domestic products need to be imported. The decline of external price has a certain negative impact on the domestic market price of p-xylene, which is not well supported enough. The market price of p-xylene is not good enough Maintain low volatility.

WTI crude oil futures market in the United States recently rose slightly to 58.41 USD / barrel, or 0.40 USD, while Brent crude oil futures rose to 64.27 USD / barrel, or 0.62 USD. The recent easing of international tensions will ultimately play a role in maintaining global economic growth and energy demand, while OPEC is also expected to continue to limit crude oil production, which ended slightly higher. U.S. crude oil inventories rose for five consecutive weeks (10 out of 11 weeks); oil prices rebounded again as the trade situation improved and OPEC was likely to extend its production reduction agreement. Flynn, senior market analyst at price futures group, said there was a general consensus that the economic situation was improving. Tom finlon, director of energy Analytics Group, said optimism about trade and the possibility of OPEC + extending production reduction agreements and increasing utilization should support oil prices. Crude oil price remains low, petrochemical product cost support is limited, domestic p-xylene price trend remains low.

In terms of raw material PTA, Shanghai Yadong Petrochemical Co., Ltd. and Hainan Yisheng PTA plant have been heated up and restarted, and the operation rate has been raised to 95%. In addition, Dushan energy 1.1 million ton line is planned to be put into operation by the end of November. At the same time, affected by the downstream polyester production reduction news, PTA market fell under the pressure of new supply. As of November 26, the market average price was 4844 yuan / ton, down 0.50% compared with the previous trading day, down 22.28% year on year. The overall market transaction in the lower reaches has cooled down. The comprehensive start-up rate of Jiangsu and Zhejiang looms is about 74%. The terminal factory is currently catching up with foreign Christmas orders, and the orders are basically coming to an end. With the beginning of December, the orders will gradually decrease, so it is expected that the load of Jiangsu and Zhejiang looms will decrease. Some orders will be issued next spring and summer, but the order quantity is not large, and the product delivery speed is average.

Recently, the crude oil price is mainly volatile, but the downstream demand of the terminal is not getting better, which has a certain negative impact on the xylene market. Business analysts believe that PX market price may slightly decline.