1、 Price trend

 

Gamma Polyglutamic Acid

According to the bulk list data of business cooperatives, the price of returned toluene after the festival rose to 7910 yuan/ton and began to fall continuously. The price of toluene was 7630 yuan/ton on October 1 and 7590 yuan/ton on October 28, down 0.52% from the beginning of the month; It was 12.11% higher than the same period last year.

 

2、 Analysis and review

 

During the National Day, due to the wide rise of crude oil, the relevant bulk commodity markets were boosted, and toluene followed suit. However, due to the occasional outbreaks in some areas, domestic gasoline demand has declined, and the gasoline price market is weak. In addition, the demand for downstream chemical products such as PX continues to be weak, and the demand side shrinks. In addition, the supply side began to increase in the middle of September. In October, the contradiction between supply and demand in the toluene market was highlighted, and the price fell under pressure after a short rise.

 

In terms of the external market, the overall trend of toluene in Asia in the external market was up and down this month. On October 28, the price of imported toluene from South Korea was 946 dollars/ton, up 6 dollars/ton month on month, or 0.64%.

 

In terms of crude oil, due to the OPEC+meeting’s decision to significantly reduce production from November, crude oil rose broadly during the National Day holiday. However, in the context of multi country interest rate hikes, economic data is weak, and oil prices continue to play a game around demand concerns and supply shortages. As of October 28, Brent rose by 7.81 dollars/barrel, or 8.88%; WTI rose by 8.41 dollars/barrel, or 10.58%.

 

Downstream: In terms of TDI, the price of TDI in East China rose broadly this month to fall back in the last ten days. At the beginning of the month, the price of domestic goods was 20075 yuan/ton, and at the end of the month, the price was 23625 yuan/ton, up 17.68% from the beginning of the month and 52.42% from the same period last year.

 

In terms of PX market, domestic PX prices stabilized after rising this month. The price at the beginning of the month was 9000 yuan/ton, and the price at the end of the month was 9300 yuan/ton, 3.33% higher than the beginning of the month, and 27.4% higher than the same period last year.

 

In terms of gasoline, the price of gasoline in Shandong Province fell continuously this month. The price at the beginning of the month was 8693 yuan/ton, and the price at the end of the month was 8329 yuan/ton, down 4.19% from the beginning of the month and 3.88% from the same period last year.

 

3、 Future market forecast

 

On the cost side (crude oil), the market is worried about the economic and demand prospects under the background of multi country interest rate increases; However, OPEC+plans to reduce production, and the geopolitical situation still worries about the tension of energy supply. It is expected that the international oil price will continue to play a long short game with a volatile trend. In the future, we will continue to pay attention to the geopolitical situation, the latest production capacity policy of OPEC+, the stock dynamics of U.S. crude oil and refined oil, and the impact of global economic conditions on crude oil prices.

 

Toluene is about to enter the traditional off-season of demand, and the pressure of supply and demand may increase, which will still restrict the price of toluene. Continue to pay attention to the impact of crude oil, external market trend, toluene unit dynamics, import and export, downstream demand, etc. on the price of toluene.

http://www.gammapolyglutamicacid.com