<div id="readability-page-1"><div> China's Sinopec has finalized its paraxylene contract price for March at 9,750 yuan ($1,416.71) per metric ton, up 32% from its February CP settlement, industry sources said on Monday. After initially nominating its March CP at 7,600 yuan/mt, the company implemented a series of price adjustments throughout the month to navigate shifting market dynamics. These fluctuations were largely driven by escalating Middle East tensions, which severely disrupted global supply chains and tightened the availability of feedstock naphtha. Sinopec utilizes a nomination and settlement mechanism to establish monthly pricing with its customer base. The company has nominated its April CP at 9,700 yuan/mt, a marginal decrease from its March settlement. The domestic Chinese market faced a severe supply squeeze in March, triggered by a convergence of planned maintenance and unforeseen logistical bottlenecks. Amid the effective closure of the Strait of Hormuz, which caused significant global supply chain disruptions, the start of the annual maintenance season in the domestic market affected production at major facilities. These include Cnooc Ningbo Daxie Petrochemical Co.'s 1 million mt/year PX plant in Ningbo which was taken offline for two weeks on March 9 following a fire at its aromatics unit, and Qidao Lidong Chemical Co's 1 million mt/year plant in Qingdao, which was taken offline in late March for maintenance. Further tightening the outlook for supply, Sinopec Jinling Co.--a 600,000 mt/year subsidiary in Nanjing--is slated to commence its planned annual maintenance in April after being postponed from March. In addition, an acute shortage of feedstock naphtha has forced several PX producers to scale back production. Average Chinese PX plant operating rates fell 3.8 percentage points week on week to 81% on April 2, an industry source said. Conversely, the domestic Chinese polyester industry is aggressively ramping up production in anticipation of peak summer demand for polyethylene terephthalate bottles. This surge in downstream activity, combined with widespread production cuts, has led to a rapid drawdown of PX stocks and a considerably tighter local market. According to an industry source, Chinese PX inventories fell by 3% over the same period, dropping to 3.599 million mt on April 2. At the same time, the increased demand has exerted upward pressure on PX prices, with the OPIS CFR China PX price rose 0.8% week on week to $1,251.33/mt on April 2. The last time the price stood at this level was on March 18, OPIS data shows. This rally was mirrored in the Chinese domestic market, where prices were higher by 0.5% over the same period to reach 9,919 yuan/mt on April 2, according to an industry source. In response to higher domestic demand, PX imports saw a marginal increase in March, with shipments from South Korea rising 3% month on month to 454,786 mt, according to industry sources. However, market participants anticipate a decline in April as regional producers shift their operational focus towards fuel production. Driven by the global fuel shortage stemming from Middle East tensions, refiners are increasingly channeling reformate into the gasoline pool rather than using it for aromatics extraction. This strategic pivot toward high-value fuel components is expected to further constrain PX import availability, just as local inventories continue to be depleted. Separately, Sinopec has settled its March CP for purified terephthalic acid at 6,360 yuan/mt, 22.8% higher than its February CP settlement. The company has issued an April CP nomination of 7,000 yuan/mt, reflecting the tightening supply and higher feedstock costs. <pre></pre> This content was created by Oil Price Information Service, which is operated by Dow Jones &amp; Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal. <pre></pre> --Reporting by Serena Seng, sseng@opisnet.com; Editing by Mei-Hwen Wong, mwong@opisnet.com <pre></pre> (END) Dow Jones Newswires April 06, 2026 04:41 ET (08:41 GMT)Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div></div>

05423

油氣資源

中國石化

中國石化已將 3 月份的對二甲苯合同價格定為每噸 9,750 元（1,416.71 美元），較 2 月份上漲 32%，原因是中東緊張局勢和國內維護問題導致供應緊張。該公司已提名 4 月份的價格為每噸 9,700 元。國內對二甲苯生產受到物流挑戰和維護停產的影響，導致庫存下降 3%。與此同時，聚酯行業的需求正在上升，推動價格上漲。中國石化還將 3 月份的純對苯二甲酸價格提高了 22.8%

Sinopec's March Paraxylene CP Settles 32% Higher on Tight Supply — OPIS

MorningStar

SINOPEC N4704

博時中證油氣資源ETF

國泰中證油氣產業ETF

易方達中證石化產業ETF

SINOPEC N2911

華寶化工ETF

中國石油化工股份

SINOPEC N3005

匯添富中證油氣資源ETF

化工ETF

華夏中證石化產業ETF

國泰中證細分化工產業主題ETF

由於供應緊張，中國石化三月份的對二甲苯合同價格上漲了 32% — OPIS