SunSirs: Affected by Insufficient Demand, the Price of OX Plummeted
December 23 2020 13:46:22 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the OX quotation plummeted on the 22nd, Sinopec OX quotation fell 500 RMB/ton, and the domestic OX market fell. As of December 22, Sinopec's price of OX was 5,000.00 RMB/ton, a decrease of 5,500 RMB/ton from last weekend (December 20), a decrease of 9.09%.
The upstream market of OX
From the mixed xylene price chart, it can be seen that the price of mixed xylene remained stable this week, the cost of OX was stable, the price of mixed xylene was stable, and the momentum for the rise of OX was weakened.
The price trend of downstream product
From the PA price chart, it can be seen that the price of PA dropped sharply in December. This week, the price of PA continued its decline in December. In December, the price of PA fell by 19%. The market for PA fell sharply. The demand for OX was weak, and the favorable market for OX weakened, and the negative was increasing.
Market outlook
The OX data analyst of SunSirs believes that the price of OX raw materials mixed xylene has stabilized this week, the cost of OX is stable, and the momentum for the rise of OX is insufficient; the price of PA plummeted in December, and the market for OX was negative. Demand for xylene has fallen, and insufficient demand has dragged down the price of OX. In the future, the mixed xylene market has stabilized, and OX’s rising momentum is insufficient. The sharp drop in the PA market has dragged down the price of OX. However, as the market outlook for PA has stabilized, the demand for OX has stabilized and the price of OX has stabilized. The downward pressure is weakened, and the market outlook for OX is expected to be weak and stable.
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