1、 Price trend
| POLYVINYL ALCOHOL |
According to the bulk list data of business cooperatives, the price of mixed xylene fell by a narrow margin this week, and the price in South China was temporarily stable. The price was 8230 yuan/ton on October 28; On Friday (November 4), the price was 8060 yuan/ton, down 0.73% from last week and up 22.68% from the same period last year.
2、 Analysis and review
The demand for downstream chemical products remains weak, the demand for terminal gasoline becomes weak, the demand side of mixed xylene performs poorly, and the price drops weakly. However, the supply of mixed xylene continued to be tight, and the enterprise’s inventory was low, supporting the price. The decline was limited within the week.
In terms of external market, Asian mixed xylene in external market rebounded after falling this week. On Thursday (November 3), South Korea imported mixed xylene at a price of US $952.5 per ton, a year-on-year drop of US $36 per ton, or 3.64%.
In terms of crude oil, the economic data performed better than expected. Superimposed on the decline of the US dollar, the US crude oil and gasoline stocks declined. OPEC+promoted production reduction. The demand of the oil market may improve. The overall international oil price rose this week. As of November 4, Brent prices this week rose by 2.8 dollars/barrel, or 2.92%, compared with last week; WTI rose $4.71 per barrel, or 5.36%.
In terms of downstream, in terms of PX, domestic PX fell broadly this week. On October 28, the price was 9300 yuan/ton, and on November 4, it was 8600 yuan/ton, 7.53% lower than last week, and 17.81% higher than the same period last year.
In terms of OX, the price of OX in East China fell this week. On October 28, it was 9600 yuan/ton, and on November 4, it was 9300 yuan/ton, down 3.12% from last week and up 27.05% from the same period last year.
In terms of gasoline, gasoline rebounded slightly after falling this week. On October 28, the price was 8329 yuan/ton, and on November 4, it was 8179 yuan/ton, 1.8% lower than last week, and 1.33% higher than the same period last year.
3、 Future market forecast
In terms of crude oil, in the later stage, the macro and supply and demand sides are still good for the oil market, and the oil price may be stronger in the future. However, before the European embargo on crude oil and product oil from Russia comes into effect, the oil market is still uncertain due to the disturbance of geopolitical factors. We will continue to pay attention to the geopolitical situation, the latest OPEC+production policy, the stock dynamics of U.S. crude oil and refined oil, and the impact of global economic conditions on crude oil prices.
Although there is still support on the supply side, the demand side has depressed the mixed xylene market. In general, mixed xylene still continues to operate in a weak position. Pay attention to the market trend of crude oil and gasoline, the impact of mixed xylene and downstream device dynamics, port inventory, and external market on the price of mixed xylene.
| http://www.polyvinylalcohols.com |