According to the Commodity Market Analysis System of Business Society, the mixed xylene market has continued to rise slightly in recent days (1.26-1.31). On January 31st, the benchmark price of mixed xylene was 7410 yuan/ton, an increase of 0.27% from 7390 yuan/ton on January 26th.
| PVA 1799 (PVA BF17) |
International crude oil prices rise, mixed xylene receives certain support
Recently (1.26-1.31), international crude oil prices have continued to rise due to the impact of the Middle East situation, which has strengthened the cost support for mixed xylene. As of January 30th, WTI03 contract settlement is $77.82 per barrel; Brent 04 contract settlement is $82.50 per barrel. The high prices of mixed xylene in Asia provide support for the domestic market, with prices of heterogeneous grade xylene in Asia ranging from $932 to $933 per ton as of January 31st.
Continuous increase in mixed xylene port inventory and increased supply pressure
The continued increase in mixed xylene port inventory has put pressure on the supply side of mixed xylene. It is understood that as of January 26th, the total inventory of xylene in East and South China amounted to 81000 tons, a significant increase from 56000 tons in early January.
Temporary stability of xylene production and necessary support for mixed xylene production
The domestic supply of xylene is relatively normal, with a domestic PX operating rate of over 80%. A 750000 ton unit of Pengzhou Petrochemical has restarted, but some units are still undergoing maintenance. The spot supply is normal. This week, the international crude oil price trend has fluctuated, and the external PX price has not changed much. As of the 26th, the closing price in Asia is 1000-1002 yuan/ton FOB South Korea and 1041-1043 US dollars/ton CFR China. Recently, the operating rate of PX plants in Asia has remained high. Overall, the operating rate of xylene plants in the Asian region is nearly 80%. The supply of PX goods in the Asian region is normal, and the price range of crude oil has fluctuated recently. The domestic xylene market price trend is temporarily stable.
| POLYVINYL ALCOHOL |
Stable market for phthalic anhydride, low starting point, stable demand support for mixed xylene
The domestic phthalic anhydride plant is running smoothly, and Anhui Tongling ortho phthalic anhydride is starting to be shipped normally. The 100000 ton phthalic anhydride plant of Xinyang Group is running steadily, while Shandong Hongxin phthalic anhydride is operating normally. However, some units are still in a shutdown state. Currently, the operating rate of phthalic anhydride in China is around 60%, which is generally at a low level, maintaining the necessary support for mixed xylene.
Small fluctuations in the domestic mixed blending market, weak support for mixed xylene demand
Since the fourth quarter, the domestic mixed blending market has entered a low season, with weak downstream inquiries and weak demand for mixed xylene. As of late January, the operating rate of refinery facilities nationwide was around 7.3%.
Market forecast: In the short term, international crude oil support is relatively strong, and mixed xylene costs continue to support. However, domestic port inventories continue to increase, and mixed xylene demand is weak. In the short term, the mixed xylene market is mainly affected by the crude oil market, and it is expected that mixed xylene may continue to rise in the short term.
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