SunSirs: Demand improves, Xylene Market Rises This Week

According to the commodity market analysis system of SunSirs, the xylene market rose overall this week. From May 12 to May 19, 2025, xylene was raised from 5,570 RMB/ton to 5,860 RMB/ton, an increase of 5.21%.

This week, the domestic xylene market rose overall. Among them, Shandong was positively affected by the downstream chemical industry's purchases after the holiday. Refineries generally had low inventories, ex-factory prices rose, and the holders had a strong mentality to support prices, and market prices continued to rise. East China and South China rose first and then fell, and finally closed higher. Some sources arrived at the port during the week. Driven by the demand of the downstream chemical industry, the market trading situation was good, and the market was generally strong.

Cost side: The crude oil market rose first and then fell in this cycle, and it rose overall. As of May 15, the settlement price of the main contract of US WTI crude oil futures was US$61.62/barrel. The settlement price of the main contract of Brent crude oil futures was US$64.53/barrel.

Supply side:

Sinopec xylene quotation summary, the company is currently operating normally, the production of the equipment is stable, the production and sales are stable, and the company's quotation is the same as the previous day. As of May 19, the East China company quoted 5,800 RMB/ton, the North China company quoted 5,750-5,950 RMB/ton, the South China company quoted 5,850-5,900 RMB/ton, and the Central China company quoted 5,600-5,700 RMB/ton.

Demand side:

On May 16, the price of paraxylene of Sinopec Sales Company was temporarily stable, and the current implementation price was 6,700 RMB/ton. This price was implemented in East China, North China, Central China, and South China. The units of Yangzi Petrochemical and Zhenhai Petrochemical were operating stably and sales were normal. It was increased by 100 RMB/ton compared with May 9. As of May 15, the closing price of paraxylene in the Asian market was 828-830 US dollars/ton FOB Korea and 853-855 US dollars/ton CFR China.

Forecast for the future market: Crude oil trend is weak recently, and the cost support of paraxylene is limited. From the supply and demand side, the inventory of xylene in Shandong refineries is generally running at a low level, and the price-supporting mentality still exists. However, the downstream PX market has been weak recently, and the intention to continue to follow up may be insufficient, lacking demand support. It is expected that the xylene market will have some downward space in the short term, and the market will operate steadily but weakly.

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