Price Trend

The domestic toluene market has been in good shape this week, with a weekly increase of about 6%, due to the rise in crude oil upstream, the decline in port inventories and the improvement in market turnover, according to the business associations’big list data.

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 6150-6200 yuan/ton. According to the feedback from traders, the trading volume fell slightly from last week, and the port inventory dropped by about 7,000 tons to about 27,000 tons.

2. Industrial chain:

Upstream, crude oil prices continued to rebound this week, with spot Brent up 5.81%, Brent futures up 4.82%, WTI futures up 2.31%, Dubai futures down 1.85%.

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 ARA Toluene TDI is about $687 per ton, domestic PX price 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. Taken together, it is expected that the toluene market will adjust its trend with minor shocks next week.