The price increase of OX slowed down in April

According to the Commodity Market Analysis System of SunSirs, as of April 26, the price of OX was 8,800 RMB/ton, an increase of 2.23% compared to the price of 8,600 RMB/ton as of March 31 of the previous month. In January, the price of OX decreased by 3.85%; In February, the price of OX surged by 6.67%; In March, the price of OX skyrocketed, increasing by 7.50%. In April, the upward trend of the OX market slowed down, while the price of mixed xylene stopped rising and fell. The downstream PA market fluctuated and fell, and the support for the rise of the OX industry chain had weakened, and the downward pressure increased.

The market for raw material mixed xylene in April stopped rising and fell

According to the market analysis system of mixed xylene products in SunSirs, as of April 26, the price of mixed xylene was 7,830 RMB/ton, which was a decrease of 3.43% compared to March 31 when the price of mixed xylene was 7,570 RMB/ton. In April, crude oil prices first rose and then fell, while mixed xylene prices stopped rising and fell. The cost of OX decreased, and the upward momentum of OX weakened, the downward pressure increased.

Downstream PA market declined in April

According to the market analysis system for PA products in SunSirs, as of April 26th, the quotation for OX method PA was 8,375 RMB/ton, a decrease of 2.90% compared to the price of OX method PA of 8,625 RMB/ton on April 1st. In April, the price of PA fell, the market for PA fell, and the downward pressure on OX increased.

Market outlook

Analysts from SunSirs’ OX data believe that in April, the market of the OX industry chain weakened, with crude oil prices rising first and then falling. The price of mixed xylene stopped rising and fell, while the price of PA fluctuated and fell. The cost of OX increased, support weakened, downward pressure increased, downstream market weakened, and demand was weak. The cost of OX has weakened, demand is weak, and the industry chain of OX has weakened. It is expected that the price of OX will remain weak and stable in the future.

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