SunSirs: Cost Reduced, and OX Market Stabilized This Week
February 07 2024 15:51:26 SunSirs (John)
The price of OX stabilized this week
According to the Commodity Market Analysis System of SunSirs, as of February 5th, the price of OX was 8,000 RMB/ton, which was temporarily stable compared to the price of OX on January 26th, which was 8,000 RMB/ton. The price of raw material xylene had stopped rising and fallen, while the cost of OX had decreased; The price of PA was temporarily stable, downstream demand was average, and the price of OX was temporarily stable.
Raw material xylene stopped rising and fell
According to the xylene commodity market analysis system of SunSirs, as of February 5th, the price of xylene was 7,330 RMB/ton, which is a decrease of 0.81% compared to the price of xylene on January 26th, which was 7,390 RMB/ton. The decline in crude oil prices, coupled with the approaching year-end and the end of downstream stocking, had led to poor demand for xylene, resulting in a decrease in xylene prices and increased downward pressure on OX.
Market outlook
According to analysts from SunSirs, the price of xylene had stopped rising and fallen this week, resulting in a decrease in the cost of OX. The end of pre year stocking had led to a decrease in downstream customer purchasing enthusiasm, insufficient demand for OX, and increased downward pressure on OX. Overall, the cost of OX had decreased and the demand was not good. It is expected that the price of OX will remain weak and stable in the future.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-04-11 SunSirs: On April 10th, the Market Situation for OX Remained Temporarily Stable
- 2024-03-14 SunSirs: Cost Reduced and Demand Was Weak, the Downward Pressure on OX Was Significant
- 2024-03-06 SunSirs: The Price of OX Increased in February, But the Support for the Increase in OX in March Was Insufficient
- 2024-02-21 SunSirs: On February 20th, the Market for OX Was Temporarily Stable
- 2024-02-19 SunSirs: The Cost of Replenishing Inventory after the Holiday Had Increased, and the Market for OX Was Temporarily Stable This Week
