SunSirs: The Support of the Industry Chain Was Absent, and the Price of OX Plummeted

Price trend

According to the data monitoring of SunSirs, the post-holiday market of OX was affected by the rise of crude oil, and the market of the industrial chain rose sharply. The quotation of OX jumped three steps, and the momentum of the increase of OX was sufficient. As the price of crude oil fell, the support of the industrial chain was no longer supported, and the price of OX plummeted. As of March 10, Sinopec's price of OX was 6,200.00 RMB/ton, a drop of 300 RMB/ton or 4.62% from the 6,500 RMB/ton price of OX at the beginning of the month (March 1).

Crude oil prices fell

From the crude oil price chart, it can be seen that WTI crude oil prices fell continuously this week by 3.15%, crude oil prices fell, and the downstream industry chain market support declined. The OX industry chain market fell, and the upward momentum of OX weakened and the downward pressure increased.

Mixed xylene market trend

It can be seen from the mixed xylene price chart that the price of mixed xylene first fell and then rose in March, and the mixed xylene market fluctuated to maintain stability. The price of mixed xylene has remained stable, the cost of OX temporarily stabilized, the pressure of OX's rise weakened, and the support of OX's rise was insufficient.

Market outlook

The OX data analyst of SunSirs believes that the crude oil market fell this week, the downstream industry chain market lost support, the price of mixed xylene was weak and fluctuated, the cost of OX fell, the rising momentum of OX fell, and the price of OX fell. In the market outlook, the crude oil market is not strong, the upward momentum of crude oil prices weakened, the cost of OX fell, the downward pressure of OX increased and the upward momentum weakened. It is expected that the price of OX will temporarily stabilize in the future.

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