Price Trend

The domestic toluene Market showed a volatile pullback trend this week, with a weekly decline of about 1.7%, due to the oil price rebound, according to business associations’data.

II. Analytical Review

1. Products: Affected by the weak economic indicators in Europe and the United States, the rapid recovery of Saudi crude oil production capacity and the oil price rebound, the domestic toluene market is still in a volatile rebound trend this week. At present, the mainstream price in East China is around 6450-6530 yuan/ton. According to the feedback from traders, the trading volume fell slightly from last week, and the port inventory remained low.

2. Industrial chain:

Upstream, crude oil, affected by the rapid recovery of Saudi oil production, this month’s oil price rebound, spot Brent fell 2.98%, Brent futures fell 3.44%, WTI futures fell 0.78%, Dubai futures fell 5.19%.

Downstream, TDI, this week’s price trend is stable, short-term TDI is expected to remain weak and stable trend. Outside prices rose slightly from last week, with FOB ARA Toluene TDI roughly around $682 per ton. In PX market, the domestic PX price trend is stable, and it is expected that the PX market price will maintain a stable trend in the short term.
3. Future Market Forecast

Xylene analysts from Business, Social and Chemical Branch believe that next week we will continue to focus on the trend of the Middle East situation, the progress of tariff imposition in Sino-US trade negotiations, and the European and American economies are worried about the expected fluctuation of demand for crude oil in the recession prospects. The toluene market is expected to continue to shake and adjust next week due to growing economic recession concerns in Europe and the United States.