Price Trend

The domestic toluene market has been in good shape this week, with a weekly increase of about 2.7%, due to the rise in crude oil upstream, the decline in port inventories and the improvement in market turnover, according to business associations’data. South China, Central China, East China and North China rose by about 100-150 yuan per ton.

II. Analytical Review

1. Products: Influenced by the rise of crude oil upstream, the decline of port stocks and the improvement of market turnover, the domestic toluene market has been in a good general trend this week. At present, the mainstream price in East China is around 5800-5850 yuan/ton. According to the feedback from traders, volume and price have risen sharply this week, compared with last week, turnover has continued to improve, and port inventory has continued to decline.

2. Industrial chain:

Upstream, crude oil prices continued to rebound this week, with spot Brent up 3%, Brent futures up 2.76%, WTI futures up 4.21%, Dubai futures down 0.2%.

Downstream, TDI, this week’s price trend is stable, trading is not strong, short-term TDI is expected to remain weak and stable trend. Compared with last week, this week’s external price is stable, FOB Korea is about $764 per ton, domestic PX price trend is stable, and short-term PX market price is expected to maintain a stable trend.

3. Future Market Forecast

Xylene analysts from Business, Social and Chemical Branch believe that next week we will continue to focus on the progress of tariff increases in Sino-US trade negotiations, and the European and American economies are worried about the expected fluctuations in demand for crude oil in the recession prospects. Overall, the toluene market is expected to move smoothly next week.