OX market is stable
According to the data monitoring of SunSirs, since the price increase of OX in mid-May, the market of OX has remained deadlocked, and the price of OX has remained stable. As of June 15th, Sinopec's offer price of OX was 6,200 RMB/ton, which was stable compared to the price of 6,200 RMB/ton of OX in early June; and it was an increase of 5.08% compared with the price of 5,900 RMB/ton on May 1. The OX market consolidates in June, and the market is deadlocked.
Raw material prices fell
According to the data of SunSirs, the price of xylene has increased first and then decreased since May. As of June 15th, the price of xylene was basically the same as that of early May. The xylene market has generally weakened, the xylene market has fallen from a high level, and the cost of OX has fallen from a high level. The price of xylene has fallen, and the support from cost side of OX is absent, but the price of xylene has limited changes, and there is little pressure on the decline of OX.
The downstream market fell weakly
According to the data of SunSirs, the price of PA has continued to fall since mid-May, the downstream market of OX has weakened, OX has no upward momentum, and the downward pressure has increased; However, during the more than one month period from May 10, when the price was the highest, to June 15, the price of PA fell by 6.5%, and the price was less than 3% from the beginning of May. The decline of PA is limited, and its impact on the market situation of OX is limited, and the market of OX remains deadlocked.
Market outlook
The OX data analyst of SunSirs believes that the upstream and downstream market for OX continued to weaken in June, and the OX market is weakly consolidating, but the decline in the upstream and downstream of OX is limited, the downward pressure of OX is insufficient, and the upward momentum is absent, the OX market remains deadlocked. It is expected that the market outlook for OX will be weak and stable for the time being, with greater downward pressure.
