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SunSirs: Domestic Market Dynamics of Xylene on April 19, 2023
April 20 2023 13:23:03SunSirs(John)

Summary of Xylene Prices on April 19, 2023:

Shijiazhuang Refining and Chemical quoted 7,800 RMB/ton, Qingdao Refining and Chemical quoted 7,950 RMB/ton, Yangba (solvent) quoted 7,850 RMB/ton, Xinhai Petrochemical quoted 7,900 RMB/ton, Guangzhou Petrochemical quoted 7,900 RMB/ton, and Maoming Petrochemical quoted 7,850 RMB/ton.

Fluctuation trend:

Analysis review

In terms of crude oil, optimistic Chinese economic data and a positive outlook for energy demand provided support for oil prices, with international oil prices slightly rising on Tuesday; G7 Group said that it would maintain the Price ceiling of 60 US dollars/barrel for Russian marine oil to balance the oil market price; On the downstream end, with May Day approaching, there was a strong atmosphere for gasoline stocking, boosting the domestic xylene market; Recently, PX's domestic and foreign factories and equipment were undergoing centralized maintenance, and the market supply continued to be tight. Affected by favorable terminal factors, the price of xylene will continue to improve in the short term, with Xinhai Petrochemical's quotation for xylene dropping by 50 RMB/ton on April 19.

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