According to the Commodity Market Analysis System of Business Society, the mixed xylene market has been declining recently (6.18-6.25). On June 25th, the benchmark price of mixed xylene was 7840 yuan/ton, a decrease of 0.76% from 7900 yuan/ton on June 18th.
Cost side: Recently, the crude oil market has continued to rise, and the tense geopolitical situation has resurfaced supply risks. The supply and demand situation is favorable for the oil market. In addition, with the continuous recovery of the Chinese economy and the peak oil consumption season in North America, multiple favorable factors support the upward trend of international oil prices. On June 20th, international crude oil futures rose. The settlement price of the main WTI crude oil futures contract in the United States was $81.29 per barrel, an increase of $0.58 or 0.7%. The settlement price of Brent crude oil futures main contract was reported at $85.71 per barrel, an increase of $0.38 or 0.4%.
Recently, the trend of the phthalic anhydride market has diverged, with neighboring phthalic anhydride operating weakly and naphthalene phthalic anhydride slightly rising. The continuous tight supply of naphthalene phthalic anhydride in the northern region has driven up the local market price of naphthalene phthalic anhydride. From the perspective of demand, it is still weak at present, especially in the recent continuous losses of ortho phthalic anhydride. The market expects that the weak demand pattern will be difficult to change in the short term. However, naphthalene phthalic anhydride has been boosted by tight supply, and the market price has maintained a high volatility trend, which will continue to remain high in the short term.
This week, the mixed xylene market has been operating weakly. As of the 25th, the mainstream quotation range for the xylene market in Shandong Province was between 7730-7750 yuan/ton in the morning, while the mainstream quotation range for the xylene market in East China was between 7750-7760 yuan/ton. The rise in crude oil prices has led to an improvement in market sentiment, but the downstream delivery capacity is limited, maintaining essential procurement and lacking demand support. This week, prices have remained stable and weak.
Market forecast: In the near future, crude oil prices will continue to rise, and finished oil products will soon face a new round of adjustment. Boosted by the rise of crude oil, there is a high possibility of an increase this time. Currently, the overall social inventory of xylene is low, and the good news still exists. However, the downstream delivery capacity is still weak, and the price of external MX has declined, which has a certain drag on the market. Overall, the market lacks downstream support and operates weakly.
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