I. Key Focus Areas
Core Logic: Currently, strong cost support from the upstream aromatic hydrocarbon chain remains a key market driver, particularly due to tight supply of o-xylene. However, weakening end-user demand is constraining high-end transaction follow-through.
II. Price Table
| Product | Region | Oct 21 | Oct 20 | Change |
|---|---|---|---|---|
| O-Xylene | Jiangsu | 10,150 | 10,150 | 0 |
| Industrial Naphthalene | Shandong | 7,170 | 7,170 | 0 |
| Phthalic Anhydride (O-Xylene Process) | Jiangsu | 10,400 | 10,350 | 50 |
| Phthalic Anhydride (Naphthalene Process) | Hebei | 9,450 | 9,350 | 100 |
| Notes: | ||||
| 1. All products listed are National Standard Premium Grade. | ||||
| 2. Prices are in RMB, unit: yuan/ton. | ||||
| 3. All RMB prices above are ex-works cash-inclusive tax prices. | ||||
| 4. The two price points represent spot prices from the previous two working weeks before this week, not weekly averages. | ||||
| 5. Change rate refers to period-over-period percentage change. |
III. Market Outlook
Currently, spot supply in the domestic phthalic anhydride market is relatively tight. In northern China, oversold inventory levels for naphthalene-process PA have extended, and strong cost support from the upstream aromatic hydrocarbon chain continues to provide market stability. Short-term, domestic o-xylene-process PA prices are expected to stabilize, while naphthalene-process PA prices are anticipated to continue trending upward.
IV. Data Calendar
| Data Item | Release Date | Previous Period | Current Trend Forecast |
|---|---|---|---|
| Weekly PA Output | Thursday 16:00 PM | 36,600 tons | ↗ |
| PA Capacity Utilization Rate | Thursday 16:00 PM | 52% | ↗ |
| PA Production Profit (O-Xylene Process) | Thursday 16:00 PM | 370 yuan/ton | ↘ |
| PA Production Profit (Naphthalene Process) | Thursday 16:00 PM | 513 yuan/ton | ↘ |
| 1. ↓↑ indicates significant volatility, highlighting data dimensions with changes exceeding 3%. | |||
| 2. ↗↘ indicates narrow-range fluctuations, highlighting data with changes within 0–3%. |
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