The price of OX dropped this week
According to the Commodity Market Analysis System of SunSirs, as of May 12th, the price of OX was 8,300 RMB/ton, a decrease of 200 RMB/ton or 2.35% compared to the price of OX at 8,500 RMB/ton on May 7th last weekend; Compared to the price of 8800 RMB/ton on May 1st at the beginning of the month, the price decreased by 5.68%. The price of xylene continued to decline, while the downstream PA market fluctuated and fell, the OX industry chain market was weak. This week, the price of OX fluctuated and fell.
The raw material xylene market continued to decline this week
According to the market analysis system of xylene products in SunSirs, as of May 12th, the price of xylene was 7,520 RMB/ton, a decrease of 1.05% compared to the price of 7,600 RMB/ton on May 7th; The price of xylene decreased by 3.96% compared to the price of 7,830 RMB/ton on May 1st. The price of xylene continued to fluctuate and fall, the cost of OX decreased, and the downward pressure on the OX market increased.
Downstream PA market fell this week
According to the market analysis system of PA products in SunSirs, as of May 12th, the quotation for PA produced by OX method was 7950 RMB/ton, a decrease of 2.00% compared to the price of 8112.50 RMB/ton on May 7th; Compared to the price of 8,225 RMB/ton for PA produced by OX method on May 1st, the price decreased by 3.34%. This week, the price of PA fluctuated and fell, and the market for PA fell. The downward pressure on the market for OX increased.
Market outlook
Analysts from SunSirs’OX data believe that the upstream xylene prices fell, while downstream PA prices continued to fluctuate and fall. The market of OX industry chain was weak, and the downward pressure on OX market increased. This week, OX prices fell. Overall, the downward pressure on the price of raw material xylene was significant, and the downstream market for PA was weak. The cost of OX decreased, demand was weak, and the market of OX industry chain was weak. It is expected that OX prices will decline weakly in the future.
