SunSirs: On June 6th, the OX Market Temporarily Stabilized
June 07 2023 10:51:44 SunSirs (John)
Price trend
On June 6th, the OX market in East China remained temporarily stable, with Sinopec East China quoting 8,100 RMB/ton, which was temporarily stable; The OX market in North China was temporarily stable, with Sinopec North China quoting 8,100 RMB/ton, which was temporarily stable; The market situation of OX in the Northeast region was temporarily stable, with PetroChina executing a quotation of 7,950 RMB/ton, and the quotation was temporarily stable; The OX market in South China was temporarily stable, with Sinopec South China quoting 8,100 RMB/ton, which was temporarily stable. The market transaction price was temporarily stable. The actual transaction price was mainly negotiated.
Analysis review
On June 6th, Sinopec listed the execution price of 8,100 RMB/ton for OX, and the price remained temporarily stable. The external quotation for OX fluctuated and stabilized; The price fluctuation of mixed xylene tended to stabilize, and the cost fluctuation of OX tended to stabilize; The downstream market for PA was fluctuating and stabilizing, while the downstream plasticizer market was fluctuating and declining. Demand was mainly in rigid, while the enthusiasm for transaction of OX was average. The start of OX was low, and the inventory of OX ports was low. The supply of OX was normal, and the OX market was stabilizing.
Market outlook
Overall, the upward momentum of the OX market has weakened, and downward pressure still exists. In the future, the OX market will temporarily stabilize.
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