Crude Oil: On October 9, both the U.S. and Iran indicated that negotiations are ongoing, easing market concerns. However, the impact of hurricanes on U.S. crude oil production continued to suppress supply, leading to a rise in international oil prices. NYMEX November crude futures closed at $91.85/bbl, up $0.36/bbl (+0.39% WoW); ICE December Brent futures closed at $104.72/bbl, up $0.44/bbl (+0.42% WoW). China INE November crude futures rose by 3.9 yuan to 741.3 yuan/bbl during the day session, then fell by 1.5 yuan to 739.8 yuan/bbl in the night session.
Xylene: Listed prices for xylene from Shandong local refineries increased primarily compared to the previous working day, with gains ranging from 50 to 170 yuan/ton.
Xylene: Downstream customers entered the market to procure materials.
Xylene: North China Petrochemical did not release products via auction.
| Market | Specification | Oct 9 | Oct 10 | Change (Value) | Change (%) |
|---|---|---|---|---|---|
| Average Price | Isomer-grade | 9128.00 | 9138.00 | 10.00 | 0.11% |
| Shandong | Isomer-grade | 8780.00 | 8855.00 | 75.00 | 0.85% |
| East China | Isomer-grade | 9225.00 | 9185.00 | -40.00 | -0.43% |
| South China | Isomer-grade | 9380.00 | 9375.00 | -5.00 | -0.05% |
| Key Downstream Products | |||||
| Shandong | 92# Gasoline | 9945.00 | 9921.00 | -24.00 | -0.24% |
| Taiwan, China | PX | 1326.00 | |||
| Related Products | |||||
| Toluene | East China | 9065.00 | 9090.00 | 25.00 | 0.28% |
| Pure Benzene | East China | 10700.00 | 10700.00 | 0.00 | 0.00% |
Today, the domestic xylene market showed mixed movements. Overnight crude oil prices continued to rise, providing support to the market. Night-session PX futures prices retreated. With no clear guidance from crude oil today, trading activity in the East China market was sluggish, and prices dipped slightly. Shandong refineries continued to push prices higher, but downstream customers' willingness to chase highs slowed, resulting in an imbalance between production and sales. In South China, prices remained firm today due to tight resource availability. Market sentiment was quiet, purchasing enthusiasm was moderate, and transactions were mainly small-volume replenishments.
Listed prices for xylene from Shandong local refineries increased primarily compared to the previous working day, with gains ranging from 50 to 170 yuan/ton. Refineries maintained an imbalance between production and sales, with auction premiums ranging from 20 to 110 yuan.
With no intraday guidance from crude oil, transaction pace in the market slowed today. Although Shandong refineries continued to secure premiums in auctions, the overall trading pace decelerated as the market reached a阶段性 high. If crude oil fails to continue rising, sellers will likely focus on stable pricing to move inventory. Expected price ranges: East China 9100-9200 yuan/ton, Shandong 8750-8900 yuan/ton, South China 9250-9500 yuan/ton.
PX: The Asian PX market was closed today.
Gasoline: Today's gasoline production-to-sales ratio was 62%.
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