Lead: During the holiday period, influenced by geopolitical conflict news, market demand improved significantly. The average sales-to-production ratio in the Shandong region during the holiday was 179%. The warming demand led to price increases, with both downstream PX and gasoline sectors entering the market for procurement.
Table 1 Price Comparison of Production Enterprises in Shandong Region (Unit: CNY/tonne)
| Company Name | June 18 | June 21 | Change |
|---|---|---|---|
| Dongfang Hualong | 6150 | 6170 | 20 |
| Qicheng Petrochemical | - | - | - |
| Zhenghe Petrochemical | 6180 | 6200 | 20 |
| Youtai Technology | - | - | - |
| Wudi Xinyue | 6103 | 6223 | 120 |
| Dongming Petrochemical | 6200 | 6180 | -20 |
| Yatong Petrochemical | 6150 | 6160 | 10 |
| Dongying Qirun | 6100 | 6163 | 63 |
| Huaxing Petrochemical | 6100 | 6123 | 23 |
| Jingbo Petrochemical | 6350 | 6330 | -20 |
| Yulong Petrochemical | - | - | - |
Source: chempricehub Information
As international crude oil fell to pre-conflict levels, bearish sentiment increased in the xylene market. However, during the holiday period, the Strait of Hormuz was closed again. Coupled with the fact that xylene prices were already at a low level, and improved negotiation sentiment for related products such as toluene and aromatic trimethylbenzene, buying interest in the xylene market increased. Downstream sectors, including PX and gasoline, replenished previously short positions, refineries experienced smooth shipments, and auctions continued to command premiums.
Table 2 Price Comparison of Related Products in Shandong Region (Unit: CNY/tonne)
| Product Name | June 18 | June 21 | Change |
|---|---|---|---|
| 92# Gasoline | 7906 | 7950 | 44 |
| Toluene | 6175 | 6190 | 15 |
| Xylene | 6150 | 6215 | 65 |
| Mixed Aromatics | 6165 | 6370 | 205 |
| Trimethylbenzene | 6375 | 6375 | 0 |
| MTBE | 5275 | 5450 | 175 |
| Raffinate Oil | 5930 | 6000 | 70 |
| Mixed C5 | 5500 | 5900 | 400 |
| Alkylate | 8250 | 8300 | 50 |
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