On the 9th, xylene prices edged up slightly. Currently, the benchmark trading range for solvent-grade xylene is RMB 4,700–5,600 per ton, while the benchmark for isomerized xylene is around RMB 4,950–5,500 per ton. Spot quotes for solvent-grade xylene are hovering near RMB 4,700 per ton (ex-tank, Zhangjiagang), and domestic isomerized xylene is quoted at approximately RMB 4,700–4,750 per ton (ex-tank). Sinopec Central China Branch reports the following xylene prices: Changling Refinery, Wuhan Petrochemical, and Sino-Korean Petrochemical are all quoting RMB 4,700 per ton. Sinopec South China Company’s solvent-grade xylene prices are as follows: Guangzhou Petrochemical is quoting RMB 5,750 per ton, while Maoming Petrochemical is quoting RMB 5,500 per ton; isomerized x
On the 9th, xylene prices edged up slightly. Currently, the benchmark trading range for solvent-grade xylene is RMB 4,700–5,600 per ton, while the benchmark for isomerized xylene is around RMB 4,950–5,500 per ton. Spot quotes for solvent-grade xylene are hovering near RMB 4,700 per ton (ex-tank, Zhangjiagang), and domestic isomerized xylene is quoted at approximately RMB 4,700–4,750 per ton (ex-tank). Sinopec Central China Branch reports that xylene from Changling Refinery, Wuhan Petrochemical, and Sino-Korean Petrochemical is priced at RMB 4,700 per ton. Sinopec South China Company sets solvent-grade xylene at RMB 5,750 per ton for Guangzhou Petrochemical and RMB 5,500 per ton for Maoming Petrochemical; isomerized xylene is priced at RMB 5,650 per ton at both Guangzhou Petrochemical and Zhanjiang Dongxing. Sinopec North China Sales Branch quotes xylene at RMB 4,700 per ton for Qingdao Great Refining, Tianjin Great Ethylene, and Shijiazhuang Refinery. Sinopec East China Sales Branch lists xylene at RMB 5,450 per ton for Yangzi BASF and Zhenhai Refining & Chemical. Liaoning Huajin Tongda Chemical Co., Ltd. maintains a stable quote of RMB 5,460 per ton for xylene.
An unexpected plunge of 7.555 million barrels in API crude oil inventories boosted oil prices, while persistent market speculation about OPEC’s production-cut agreement has intensified bullish sentiment for crude. According to research firm BMI, Russia’s oil output is expected to rise in 2017 and 2018; meanwhile, increased production from Libya and Nigeria has pushed OPEC’s September crude output to a record high, and Iran’s output has already rebounded to pre-sanction levels of 4 million barrels per day. Recently, the agreement between Saudi Arabia and Russia to cut production has further fueled the upward momentum in crude prices. As a result of these production cuts, crude prices have continued to climb, and the outlook for xylene prices suggests a predominantly volatile and consolidating trend, with upward pressure but limited room for sustained gains.
