On December 2, the PX commodity index was 53.60, down 0.1 point from yesterday, 47.66% from 102.40 (2013-02-28), and 17.67% higher than 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 December 2, the closing price of p-xylene market in Asia dropped by 7 USD / ton, and the closing price was 770-772 USD / ton fob in South Korea and 791-793 USD / ton CFR in China. About 50% of domestic products need to be imported. The falling price of external market has a certain negative impact on the domestic market price of p-xylene, which is not supported well enough. The market price of p-xylene is close to that of domestic market Period slightly lower.

WTI crude oil futures market in the United States recently rose slightly to $55.96/barrel, or $0.79, while Brent crude oil futures rose to $60.92/barrel, or $0.43. OPEC and its allies may agree to further production cuts at a meeting this week, while strong Chinese manufacturing data also showed stronger demand, with crude closing slightly higher. Oil prices were also supported by an unexpected return to growth in Chinese manufacturing activity in November. Driven by the production and new orders index, China’s official manufacturing PMI unexpectedly rebounded to above 50 in November, hitting an eight month high. In November, Caixin manufacturing PMI recovered for five consecutive months, the highest since 2017. With the further implementation of the early counter cyclical adjustment policy, China’s economic operation began to show signs of turning from decline to stability. Crude oil price remains low, petrochemical product cost support is limited, domestic p-xylene price trend remains low.

In terms of raw material PTA, another 1.1 million ton line of Dushan energy was put into operation successfully, Hainan Yisheng and Yadong petrochemical plants were restarted successively, and the supply end was pressurized. At the same time, affected by the downstream polyester production reduction news, PTA market fell under the pressure of new supply, and the market average price was 4814 yuan / ton as of December 3. The overall market transaction in the lower reaches has cooled down. The comprehensive start-up rate of Jiangsu and Zhejiang looms has declined to about 71%. 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 decline. Some orders will be issued next spring and summer, but the order quantity is not large, and the product delivery speed is average.

In the near future, crude oil price is mainly fluctuating, but the demand at the downstream of the terminal is not improving, which has a certain negative impact on the xylene market. Business analysts believe that the PX market price may maintain about 6700 yuan / ton.