1、 Price trend

 

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According to the bulk list data of business cooperatives, the price of mixed xylene stabilized after the festival. On September 30, the price was 8020 yuan/ton; On Friday (October 14), the price was 8400 yuan/ton, 4.73% higher than that before the festival and 25.19% higher than that of the same period last year.

 

2、 Analysis and review

 

Due to the strong rise of crude oil during the festival, related bulk commodities generally rose, and the domestic mixed xylene market was boosted by the good news. However, due to public health events and other factors, the gasoline market is not good, and the rising crude oil is limited, and downstream chemical products just need to follow up. The demand side was weak, the crude oil continued to fall after the superimposition festival, the market center of gravity moved down, and the wait-and-see increase.

 

In terms of external market, Asian mixed xylene in external market fell broadly this week. On Thursday (October 13), South Korea imported mixed xylene at a price of US $983/ton, a year-on-year drop of US $89/ton, or 8.3%.

 

In terms of crude oil, due to OPEC+’s plan to significantly reduce production from November, oil prices continued to rise during the holiday season. As of October 7, Brent prices rose by 9.96 dollars/barrel, or 11.32%; WTI rose by 13.15 dollars/barrel, or 16.54%. However, the market’s concern about economic recession still depressed the oil price, which mainly fell after the festival. As of October 14, Brent price fell by 6.29 dollars/barrel, or 6.42%, compared with last week; WTI fell by 7.03 USD/barrel, or 7.59%.

 

In terms of downstream, in terms of PX, domestic PX prices rose. On September 30, the price was 9000 yuan/ton, and on October 14, the price was 9300 yuan/ton, 3.33% higher than before the festival, and 27.4% higher than the same period last year.

 

In terms of OX, the price of OX in East China rose. On September 30, it was 9000 yuan/ton, and on October 14, it was 9600 yuan/ton, 6.67% higher than before the festival, and 45.45% higher than the same period last year.

 

POLYVINYL ALCOHOL

In terms of gasoline, the gasoline market is weak, and the price has been weakening continuously. On September 30, the price was 8693 yuan/ton, and on October 14, the price was 8420 yuan/ton, down 3.14% from before the festival, and up 1.32% from the same period last year.

 

3、 Future market forecast

 

In terms of crude oil, the crude oil market will continue the long short game. Positive, OPEC+production reduction, European winter energy supply shortage. Bad news: European and American interest rate hikes are expected, and the market is worried about the economic recession depressing oil demand. Continue to pay attention to the geopolitical situation, OPEC+’s decision on crude oil production, the impact of the stock dynamics of U.S. crude oil and refined oil, and the global economic situation on crude oil prices.

 

The follow-up of downstream demand is poor, and the wait-and-see mood is strong. It is expected that the mixed xylene will operate weakly in the short term. Pay attention to the market trend of crude oil and gasoline, the impact of mixed xylene and downstream device dynamics, port inventory, and external market on the price of mixed xylene.

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