According to the Commodity Market Analysis System of Shengyi Society, the toluene market fluctuated upward from November 10 to November 17, 2025. On November 10th, the benchmark price of toluene was 5240 yuan/ton, and on November 17th, the benchmark price of toluene was 5330 yuan/ton, an increase of 1.72%. The domestic toluene market has fluctuated and risen in this cycle. The rise in crude oil prices has led to an improvement in the mentality of the spot market. The ex factory prices of main refineries have generally increased, and downstream chemical and blending industries have made on-demand purchases. The prices in the East and South China markets have slightly increased, and the market negotiation atmosphere is still good. Overall, the toluene market has been operating steadily with a moderate to strong trend this week.
Cost wise: According to the Commodity Market Analysis System of Shengyi Society, as of November 14th, the settlement price of the December WTI crude oil futures contract in the United States was $60.09 per barrel. The settlement price of Brent crude oil futures for January contract is $64.39 per barrel.
Supply side:
Sinopec’s toluene enterprise is operating normally, with stable production of equipment and many products for personal use, resulting in stable production and sales. As of November 17th, East China Company quoted 5400 yuan/ton, North China Company quoted 5250-5350 yuan/ton, South China Company quoted 5400-5500 yuan/ton, and Central China Company quoted 5450 yuan/ton.
Demand side:
On November 17th, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 6800 yuan/ton. This price is implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other units are operating stably and sales are normal. As of November 14th, the closing prices of the para xylene market in Asia were $806-808/ton FOB Korea and $831-833/ton CFR China.
Market forecast: The recent slight rebound in the crude oil market will drive an improvement in the atmosphere of the spot market. From the perspective of supply and demand, there has been little change in the market recently. The main refineries have generally raised their ex factory prices, and the overall market atmosphere is still good. The factories have a strong mentality of raising prices. The demand side is still biased towards rigid demand, and inventory needs to be replenished as needed. Overall, the recent performance of the toluene market has been stable, moderate, and strong. It is expected to maintain a stable, moderate, and strong trend in the short term, driven by the rise in crude oil prices.