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Xylene: Just Needed To Boost Traditional Peak Season Repair Bounce
Apr 09, 2018

In April, the domestic xylene market oscillated upward. On the eve of the Qingming Festival, the shipments of xylene and Jinxiang warehouses were scattered and the main port was under pressure. However, due to the fact that the market received a single order, the spot consumption was steady and the market price range rebounded. After the first working day of the Ching Ming Festival, the market was driven by the purchase price of the oil-adjusted single-stocking. The confidence of the suppliers boosted the market. The heterogeneous xylene market was explored at 50 yuan/ton to 5,750 yuan/ton, which was 5,480 yuan lower than the year's low formed in March. / Tons rose 270 yuan / ton and 4.93%.
According to statistics, on April 4th, the inventory of xylene in Jiangsu ports fell to 54,000 tons, which was a decrease of 1.88 yuan/ton from the 72,800 tons of high stocks formed on March 8, which was a decrease of 25.8%. The recent supply and demand fundamentals point to optimism and the port inventory has steadily declined. Although international crude oil fluctuates and fluctuates, the market is expected to dominate the shocks in the energy market. However, under the circumstance that the trade war between China and the United States is rampant, financial and energy market uncertainties exist. From the past two years, international crude oil is still operating at a high level. Currently, it maintains cost support for the aromatics market above $60/bbl. However, the correlation between the short-term xylene market and energy trends has declined. Its April market was contrary to the overall trend of crude oil.

From April to May, the market entered the peak season for oil-adjustment. Although terminal demand is expected to be limited from the perspective of tax reform and other policies, there is an upward trend in the current low market price, and the rebounding trend of the repair period in the peak period of the market period. However, after the port price in East China broke through 5,750 yuan/ton, there was an increase in profitable shipments from previous-stage cost sources. The rebound in the market or pressure was expected to be limited by market fluctuations, but the market was more likely to oscillate.