1、 Price trend
The domestic toluene market rebounded slightly this week, with the average domestic price of about 3640 yuan / ton as of Friday, up 1.68% on last week, according to the data of the business club’s large list.
| ferric sulfate (Poly ferric sulphate) |
2、 Analysis and comment
1. Product: at present, the market demand has improved, and the transaction is fair. This week, the international crude oil overall shows a small fluctuation trend. Affected by this, the domestic xylene price rose slightly this week. At present, the mainstream price in East China is around 3600 yuan / ton.
2. Industrial chain:
Upstream, in terms of crude oil, with the new opening of the main economic weight and the initial signs of rising gasoline demand in the United States, Russia indicated its willingness to extend the production reduction. However, the unexpected increase in U.S. crude oil inventory announced this week, as well as investors’ concerns about the tension in Global trade relations, led to the overall trend of international crude oil shocks this week. At present, the international oil price shows signs of resistance near its high in the past two months, so as to prevent the trend of fluctuation and fall that may occur at any time. As of early Friday morning, spot Brent rose 1.28%, Brent futures slightly fell 0.14%, WTI futures rose 2.44%, and Dubai futures rose 2%.
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On the downstream side, TDI saw a slight increase in the market. At present, 10800-11000 yuan / ton is the reference for domestic delivery of goods with tickets, 11300-11500 yuan / ton is the reference for Shanghai delivery of goods with tickets. It is expected that the short-term TDI market will maintain a stable trend and pay close attention to the plant’s later information guidance and the actual market trading situation. In PX market, this week, the price of domestic Sinopec’s enterprises is about 4100 yuan / ton, and the latest price on the outside market is about $456 / ton for FOB South Korea and $476 / ton for CFR China. It is expected that the market price of PX will be stable in the short term.
3、 Future forecast
Toluene analyst of business and chemical branch thinks: in the short term, we can see the supply cost, OPEC + production reduction, total number of us oil drilling and EIA inventory. In the medium term, we can see the demand side, the economic and trade situation between China and the United States, the progress of economic restart in Europe and the United States, and the progress of industrial chain recovery. Next week, we will focus on the trend of crude oil. Overall, it is expected that the price of toluene in the domestic market will be adjusted next week.
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