This week, the mixed xylene market fluctuated upward, and from March 31 to April 7, 2025, mixed xylene rose by 1.26%. As this cycle is approaching the holiday, downstream purchasing intentions are still good, companies are actively entering the market to inquire, and the market trading situation is good. Refineries in Shandong generally have low inventories. The supply in East China is relatively loose, and the market disinfection has declined. Sinopec’s price increase in South China has led to a strengthening of spot market prices, but the market trading is weak, and downstream just needs to replenish inventory.
Cost side: On April 4, international crude oil futures plummeted. The settlement price of the main contract of WTI crude oil futures in the United States was $61.99 per barrel, a decrease of $4.96 or 7.4%. The settlement price of the main contract of Brent crude oil futures was $65.58 per barrel, a decrease of $4.56 or 6.5%. Affected by the US tariff policy, oil prices have plummeted for two consecutive trading days, and WTI has fallen by nearly $10. Investors are concerned about the risk of economic recession caused by the escalation of global trade conflicts. Based on the follow-up impact of the current US tariff policy, crude oil may enter a new cycle in the long term. The balance between supply and demand may be broken and re-enter the process of rebalancing. In the short term, given that countries are trying to reduce tariffs through negotiations or impose retaliatory tariffs, tariffs may change, and oil prices may fluctuate violently in the short term.
Brent-WTI crude oil price trend comparison chart:
Demand side:
On April 7, the price of paraxylene of petrochemical sales companies was temporarily stable. The units of Yangzi Petrochemical and Zhenhai Petrochemical were operating stably and sales were normal. The price was reduced by 400 yuan/ton compared with that on March 28. As of April 4, the closing price of paraxylene in the Asian market was 778-780 US dollars/ton FOB Korea and 803-805 US dollars/ton CFR China.
Market Forecast: Affected by the news of the US tariff increase, the commodity market weakened overall, crude oil prices fell significantly, and the spot market atmosphere was weak. On the supply side, sales in Shandong were good, and inventory was running at a low level. On the demand side, as the market atmosphere weakened, the downstream wait-and-see sentiment was strong, and the demand side was bearish. Overall, the market atmosphere was weak overall. This week, the ex-factory quotations were generally lowered, and downstream purchases were mostly on the sidelines, which had limited support for prices. It is expected that the market will run weakly in the short term.
Post time: Apr-08-2025