SunSirs: Domestic and International Xylene Market Trends on March 17

Domestic Situation

On March 17, the benchmark price for xylene, as reported by SunSirs, stood at 7,238.25 RMB/ton—an increase of 27.66% compared to the beginning of the month (5,670.00 RMB/ton).

On March 17, the mainstream spot price range for xylene in the East China region stood between 7,700 and 7,760 RMB/ton. During the previous trading session, domestic markets for both toluene and xylene exhibited a volatile yet firm trend; strengthening crude oil prices, coupled with tight supply, bolstered market sentiment. However, weak downstream demand and sluggish trading activity led to intraday prices surging initially before subsequently retreating. As of March 17, reduced operating rates at petrochemical plants and a shortage of raw materials had resulted in tight supply; yet, insufficient follow-through from downstream sectors suggests that the market is likely to remain volatile in the short term. Close attention to the international geopolitical situation remains essential.

On March 17, the mainstream price range for xylene in the South China region stood at 7,650–7,700 RMB/ton, remaining unchanged from the previous trading day. Sinopec South China maintained its listed price for xylene at a steady 7,700 RMB/ton. During the previous trading session, the domestic markets for toluene and xylene exhibited a volatile yet firm trend; strengthening crude oil prices, coupled with tight supply, bolstered market sentiment. However, current downstream demand remains sluggish, causing prices to surge initially during the day before retreating. Consequently, the market is expected to continue trending with volatility in the short term, and close attention to the international geopolitical situation remains essential.

International Situation

On March 17, the international xylene market closed 12 cents per gallon higher: the FOB USG March closing price was 362.25–362.35 cents per gallon, and the FOB USG April closing price was 362.25–362.35 cents per gallon. 

On March 17, the Asian xylene market closed lower by $49/ton: the closing price for early April FOB Korea stood at $1,144–1,146/ton, while the closing price for early April CFR China was $1,156/ton.

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