The Chinese economy is now facing a very embarrassing situation where there is a serious overcapacity,and the chemical industry is also facing a serious oversupply situation.The rapid growth of individual products in recent years has caused the capacity to be far greater than the market demand.How should the chemical giants face the severe surplus in the Chinese market?【Details】

　　【Corporate News】

　　Guangzhou Petrochemical:6 sets of devices behind 20 months without accidents

　　Keywords:Guangzhou Petrochemical

　　Abstract:Guangzhou Petrochemical Refinery Department implements the work style of“Strict,Practical and Constant”,conscientiously pays great attention to on-site management,places efforts on the site,pays close attention to safety and environmental protection,and pays close attention to production optimization.All 6 sets of devices have achieved zero accidents and incidents in safety and environmental protection.This is another breakthrough made by the Ministry on the basis of achieving zero accidents and incidents last year.【Details】

　　【Safety and Environmental Protection】

　　Environmental protection company Xinao Group East China regional headquarters will be settled in Nanjing Chemical Industry Park

　　Keywords:environmental protection,Xinao Group,Nanjing Chemical Industry Park

　　Abstract:At the Golden Fair,Xinao Group’s East China Regional Headquarters will sign a contract to settle in the Nanjing Chemical Industry Park.The headquarters is based on environmental protection business and involves core businesses such as clean energy,energy chemical,and smart technology.Functional institutions such as settlement centers are expected to have a total investment of nearly 1 billion yuan.【Details】

　　【Organic Chemicals】

　　The recent price increase of xylene is expected to continue the price trend in the later period

　　Keywords:xylene

　　Summary:On the 7th,the price of xylene increased.At present,the reference price of the solvent xylene market is 4700-5150 yuan/ton,and the price of isomerized xylene is around 4950-5050 yuan/ton.The offer for the solvent xylene market is around 4700 yuan/ton(Zhangjiagang out of the tank),and the domestic isomerized xylene market is around 4700-4750 yuan/ton(out of the tank).【Details】

　　【Energy and Chemical】

　　Oil prices closed at a high level in the past week,US oil inventories fell as expected

　　Keywords:oil price,US oil

　　Summary:On Wednesday,crude oil futures prices rose slightly and closed at a high of nearly a week.Hopes finally reached due to the frozen production agreement reignited,and before the release of US API crude oil inventory data,the market expected that US crude oil inventories will be significantly reduced due to the impact of hurricane To a certain extent,this also provides support for oil prices in real trading.And the API data released later confirmed the speculation that the U.S.crude oil inventories fell sharply,and the oil price jumped up in the electronic trading.