According to the Commodity Market Analysis System of Shengyi Society, the mixed xylene market fluctuated and slightly declined from February 10 to February 17, 2025. On February 17th, the benchmark price of mixed xylene was 6710 yuan/ton, a decrease of 0.45% from 6740 yuan/ton on February 10th. This week, the mixed xylene market fluctuated within a certain range, with a slight overall decline and slight differences in performance across regions. The overall decline of the mixed xylene market in Shandong region is affected by insufficient downstream demand, resulting in limited market purchasing enthusiasm and weak overall operation of the Shandong market. Affected by low inventory, market prices in the East China region have slightly increased. Affected by tight supply in the South China region, Sinopec raised its ex factory prices. However, due to insufficient downstream receiving capacity, the market prices slightly declined, with an overall increase followed by a decrease.

Cost aspect: During this cycle, crude oil prices first rose and then fell, with little overall fluctuation. As of February 13th, the settlement price of the main contract for WTI crude oil futures in the United States was $71.29 per barrel. The settlement price of the main Brent crude oil futures contract is reported at $75.02 per barrel.

Supply side:

Sinopec’s xylene quotation summary shows that the company is currently operating normally, with stable production and sales. The company’s quotation remains unchanged from the previous day. As of February 17th, East China Company quoted 6700 yuan/ton, North China Company quoted 6500 yuan/ton, South China Company quoted 6850-6900 yuan/ton, and Central China Company quoted 6400 yuan/ton.

Demand side: acceptable support

On February 14th, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 7500 yuan/ton. This price is implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other units are operating stably and sales are normal. As of February 13th, the closing prices of the xylene market in Asia were 854-856 US dollars/ton FOB Korea and 879-881 US dollars/ton CFR China.

Market forecast: The crude oil market is running weakly, with limited cost support. In recent times, the overall supply has been stable but slightly tight, with little change. The downstream receiving capacity of the demand side is weak, and the futures markets such as PX are weakening, which affects the downstream purchasing mentality. It is expected to operate steadily and weakly in the short term.