How is China's mixed xylene supply-demand balance shifting and what drives prices?

How is China's mixed xylene supply-demand balance shifting and what drives prices?
China's mixed xylene capacity reached roughly 38.7 million tonnes/year by end-2021, up 14.2% year-on-year, though capacity growth has slowed for two consecutive years as the base expands and new unit startups become less concentrated. Domestic output in 2024 was about 31.25 million tonnes, with imports of 1.42 million tonnes and apparent consumption near 32.6 million tonnes. Downstream, around 68% goes to para-xylene production, 27% to gasoline blending, 4% to ortho-xylene, and only 1% to solvents and other uses. This heavy reliance on PX means mixed xylene prices are tightly linked to polyester chain economics and refining margins, while gasoline blending demand adds a seasonal, fuel-driven overlay. Recent price upticks, such as Jiangsu isomer-grade rising 120 yuan/tonne and Guangdong 150 yuan/tonne, were attributed to higher oil prices and active trading, though volumes shrank—a sign of cautious buying.