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China PX inventory has been reducing continuously, shedding more than 800kt throughout the first 7 months of 2022 according to CCFGroup’s statistics. Domestic PX supply remains tight, especially when some imported cargoes are delayed. Several domestic PTA plants are under strains from lack of feedst
China PX supply available was ample with inventory rising after the holiday in the beginning of Oct. PX-naphtha spread was under pressure, hitting this year’s low point. However, with crude oil price staying firm at historical high, PX price got supported, rising 6% from the beginning of Oct to $934
3. China PX inventory surges to record highDemand for PX evaporated outside China due to the spread of coronavirus pandemic. However, as China resumed work and production, an influx of PX was attracted to China’s market. Local PTA producers stocked up low-priced feedstock PX, which resulted in China
In the beginning of 2016, Asian PX price dropped to as low as $681/mt CFR, and Brent crude oil futures were $28.55/bbl at the same time. However, the currently situation is different from that in 2015-2016.China PX capacity growth rate accelerated to 44% in 2019. Since the beginning of 2019, newly-s
