Price Trend

According to the data of business associations, domestic xylene prices showed a downward trend in May. At the beginning of May, the price of xylene was stable, and began to oscillate in the first half of the month until the end of the month. At the beginning of the month, the average price of enterprises was the highest, 5670 yuan/ton; at the end of the month, the lowest price was 5430 yuan/ton, with a monthly decline of about 4.32%.

II. Analytical Review

1. Products: The xylene market is in a downturn this month. The overall purchasing intention is not high and the market mainstream transaction price is around 5480-5500 yuan/ton. The inventory of ports in East China is about 80,000 tons, which is about 316,000 tons compared with 111,600 tons at the beginning of the month. This month, Qingdao Dalian Refinery, Sinochem Hongrun Unit overhaul, reduced a certain amount of export sales, reduced market supply, traders benefit from this good offer. However, this positive support is less than the impact of raw materials and downstream, so xylene market overall downward in May.

2. Industry chain: In the upstream, the international oil price first stabilized and then fell in May. The OPEC production reduction and geographic situation were the main positive factors in the early and mid-term. The downward trend of the US stock market and the unexpected decline of the US crude oil inventory led to a sharp drop in the international oil price in the latter half of the year. On the downstream side, the domestic market price of p-xylene declined in May, with a monthly decline of about 2.61%. The new PX plant was not started and the enthusiasm of stockpiling was not high, which caused a certain blow to the market mentality. The market of o-xylene declined in May, and the contract price of o-xylene Sinopec was 6200.00 yuan/ton as of May 30. Benzene prices fell 500 yuan/ton, or 7.46%, from 6,700.00 yuan/ton in early May, and 6.59% from the same period last year.

3. Future Market Forecast

The Xylene Analyst of Business Cooperative Chemical Branch believes that: in a word, the stockholders are still optimistic about June because of the bullish support of crude oil and the driving of downstream PX devices. The market is mainly concerned about the driving of Sinochem Hongrun PX devices. However, at present, other major downstream purchasing intentions are general, the buying atmosphere is insufficient, stocks remain high, the market is in a stalemate stage, and the trend of Xylene is low. Fan, it is difficult to improve in the short term, or will fall first and then rise, but the range is small.