Crude Oil: On September 21, reports indicated that the United States and Iran might resume negotiations, easing market concerns and causing international crude oil prices to fall. The NYMEX WTI October futures contract closed at $95.78/barrel, down $4.52/barrel (-4.51% WoW); the ICE Brent November futures contract closed at $100.34/barrel, down $3.53/barrel (-3.40% WoW). The INE crude oil futures contract for delivery in November 2026 fell by 23.6 CNY to 730.8 CNY/barrel, while the night session dropped by 16.5 CNY to 714.3 CNY/barrel.
Xylene: Posted prices for xylene from Shandong independent refineries declined compared to the previous working day, with decreases ranging from 50 to 200 CNY/ton.
Xylene: Downstream customers entered the market for procurement.
Xylene: North China Petrochemical did not release goods through auctions.
| Market | Specification | Sep 21 | Sep 22 | Change | % Change |
|---|---|---|---|---|---|
| National Average | Isomerized Xylene | 8640.00 | 8611.00 | -29.00 | -0.34% |
| Shandong | Isomerized Xylene | 8486.00 | 8335.00 | -151.00 | -1.78% |
| East China | Isomerized Xylene | 8725.00 | 8750.00 | 25.00 | 0.29% |
| South China | Isomerized Xylene | 8710.00 | 8750.00 | 40.00 | 0.46% |
| Key Downstream Products | |||||
| Shandong | 92# Gasoline | 9895.00 | 9887.00 | -8.00 | -0.08% |
| Taiwan, China | PX | 1231.33 | 1249.00 | 17.67 | 1.44% |
| Related Products | |||||
| Toluene | East China | 8435.00 | 8465.00 | 30.00 | 0.36% |
| Pure Benzene | East China | 9605.00 | 9850.00 | 245.00 | 2.55% |
Today, the domestic xylene market showed mixed trends. Overnight crude oil prices mostly closed lower, providing weak support for market sentiment. However, downstream PX futures prices remained firm, MX (mixed xylene) USD prices rose, and spot resources in East China were tight, allowing xylene to maintain a bullish trend. Shandong refineries continued discount operations today; following pre-holiday inventory clearance via auctions, overall prices dropped to low levels. This triggered arbitrage opportunities between Shandong and East China, leading to active transactions and premium auction prices today. In South China, refinery quotes remained firm, with most auctions clearing at premiums and decent negotiation activity.
Posted prices for xylene from Shandong independent refineries declined compared to the previous working day, with drops of 50–200 CNY/ton. Refineries maintained balanced production and sales, with auction premiums reaching 70 CNY/ton.
Crude oil futures traded firmly during the session, supporting market sentiment. Today’s shipment volume from Shandong refineries was decent, with factories achieving auction premiums. Supply in the East China market remains tight. Tomorrow, market prices are expected to hold slightly firm: East China forecast at 8750–8800 CNY/ton, Shandong at 8250–8300 CNY/ton, and South China at 8700–8800 CNY/ton.
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