April 8th News
On April 7th, the closing price of para-xylene (PX) in the U.S. market fell by $10 per ton, settling at $1,442–$1,444 per ton FOB U.S. Gulf.
Chempricehub's analysis of PX, with a long-short rating of -1: The spot price of PX in the U.S. region dropped by $10 per ton, closing at $1,442–$1,444 per ton FOB, indicating increased market supply or weak demand, which directly exerts downward pressure on spot prices. Combined with futures data, PX futures contracts such as 2605 closed at 9,880 yuan per ton (subject to exchange rate conversion for USD equivalent), showing a recent upward trend. However, the decline in spot prices may spill over into the futures market, increasing short-term downward pressure. It is expected that futures prices will face pressure and undergo a correction, warranting a rating of -1.0 (generally bearish). It is advisable to monitor supply and demand dynamics to mitigate risks.