Price trend
According to the data monitoring of SunSirs, after three consecutive falls in the price of OX in March, the price of OX finally rose this week. As of April 15, Sinopec's quotation for OX was 5,600.00 RMB/ton, up 3.70% from 6,400 RMB/ton at the beginning of the month (April 1).
A deflagration occurred in the aromatics equipment of Yangzi Petrochemical Company
At 16:00 on April 9, a deflagration and fire broke out in the aromatics plant of Yangzi Petrochemical Co., Ltd. Although the fire was put out in time and the impact on the overall supply of the market was limited, the explosion was the second explosion of Yangzi Petrochemical this year, which may lead to strict investigation of enterprise safety accidents and affect enterprise production. Yangzi Petrochemical has a capacity of 240,000 tons of OX per year, and is a leading enterprise in the production of OX in China. The explosion of Yangzi Petrochemical caused market panic and pushed the price of OX up.
Upstream market of industrial chain
It can be seen from the price trend chart of mixed xylene that the price of mixed xylene rose slightly in April, although the increase was limited, it rose steadily. Mixed xylene price remained high, OX cost pressure increased, OX theoretical profit was negative, OX price increase momentum increased.
The price of OX on the external disk increased
According to the monitoring data of the business agency, since April, the external price of OX has risen slightly. Port OX slowly destocked, the external market stimulated the domestic OX market, and the domestic OX market slowly picked up.
Market outlook forecast
The OX data analyst of SunSirs believes that since April, due to the high levels of raw materials and the recovery of the external market, the momentum of domestic OX rising has increased, but the weak downstream demand has restricted the rebound of OX prices. However, the Yangzi Petrochemical explosion completely ignited the upward momentum of o-benzene, and the price of OX rose. In the future, the demand for OX is limited, and the support for the rise of OX is insufficient, but OX cost support is still in. The external market is positive and stimulating, and the market has a strong psychological push. It is expected that the strength of OX will temporarily stabilize in the future.
