Price Trend
Stimulated by the news of the resumption of Sino-US trade talks at the G20 meeting, domestic toluene market prices continued to rise this week, up about 4.6% from last week, according to business associations’data.
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II. Analytical Review
1. Products: Toluene market prices rose steadily from the beginning of the week to the middle of the week, and stabilized in the latter half of the week. At present, the mainstream transaction price in the market is around 5400 yuan/ton. Port stocks were depleted this week, with East China stocks at around 371,000 tons.
2. Industrial chain:
Upstream, crude oil, this week’s overall oil price continued to reverse trend, Brent crude oil range in 62.685-64.930 U.S. dollars / ton, a weekly increase of about 3.7%.
On the downstream side, the price of PTA in the downstream of PX market is higher, the overlapping Global trade is expected to be better, the export of terminal textiles is expected to increase, the downstream market of PX is supported, and the short-term price still has room to rise; on the TDI market, the operation of TDI market in East China is mainly consolidated, the price trend is slightly increased, and the inquiry atmosphere is light. Real orders are in a downturn, and market-based shipments follow suit.
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3. Future Market Forecast
In a word, toluene market is expected to recover slightly next week. For international crude oil, we need to focus on the situation in the United States and Iraq and the fluctuation of demand for crude oil in the global economic outlook.