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SunSirs: Raw Material Prices Continue to Rise, Supporting the Rise of O-xylene

June 10 2020 10:38:59     SunSirs (John)

Price trend

According to the data monitoring of SunSirs, this week's o-xylene Sinopec contract price rose 100 RMB/ton. As of June 9, the execution price of o-xylene Sinopec was 4,300.00 RMB/ton, which was an increase from the price of 4,200.00 RMB/ton at last weekend. Compared with the same period last year, the price fell by 30.65%, and the price of o-xylene was lower than that of the same period.

 

Trend of mixed xylene

As can be seen from the price chart of mixed xylene, since May, the price of mixed xylene has continued to rise. Except for a brief shock adjustment in the price in mid-May, the overall mixed xylene price has risen sharply. As of June 9, mixed xylene The price increased by 12.00% from the beginning of May. The price of mixed xylene has risen, the cost of o-xylene has risen, and the pressure for the rise of o-xylene has increased, which is good for o-xylene.

 

Market outlook

SunSirs analysts of o-xylene data believe that since May, the price of mixed xylene has continued to rise, the price of o-benzene raw materials has risen, the cost of o-xylene has increased, and the pressure of o-xylene has increased. The rise in o-xylene in late May eased some of the upward pressure, but the continued rise in mixed xylene prices in June provided significant support for the rise in o-xylene prices. At the same time, compared with the same period of previous years, the price of o-xylene is still low, and the pressure of o-xylene is rising. However, for the market outlook, the mixed xylene price growth slowed down. Although the market for phthalic anhydride and plasticizers remained firm, the upward momentum was insufficient and the support for o-xylene was insufficient. Overall, the market for o-xylene is generally positive, but the support for the rise is insufficient. The market outlook for o-xylene is expected to remain stable.

 

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