Toluene prices continued to rebound this week (Nov. 9-nov. 15) due to the recovery of market turnover and the rebound of international crude oil

I. price trend


Domestic toluene market rose 4.83% this week due to the recovery of market transactions and the rebound of international crude oil prices, according to the data in the bulk list of business agencies.


II. Analysis and comment


1. Products: compared with last week, this week’s market has slightly improved, and the volume of transactions has increased. At present, the mainstream price in East China is about 5750-5820 yuan / ton. According to the feedback from traders, last week’s trading volume picked up and the port inventory decreased slightly, about 26000 tons.


2. Industrial chain:


sodium persulphate

Upstream, in terms of crude oil, this week’s oil prices were generally volatile, with Brent up 1.18% at sight, Brent futures up 1.21%, WTI futures down 0.66% and Dubai futures up 2.73%.


On the downstream side, on the TDI side, the price trend of the domestic TDI market this week slightly decreased, and the average market price in East China at the weekend was about 12800 yuan / ton. It is expected that the TDI market will be weak in the later period. On the PX market, the domestic PX price trend this week was temporarily stable, while the external price rose slightly. The price is about 768-770 US dollars / ton FOB South Korea and 788-790 US dollars / ton CFR China. It is expected that the market price of PX in the short term will remain around 6800 yuan / ton.


III. future forecast


According to xylene analyst of business and chemical branch, we will continue to focus on market turnover and port inventory next week, as well as the progress of Sino-U.S. trade negotiations, and the expected fluctuation of crude oil demand due to the weak prospect of global economic indicators. Overall, it is expected that the toluene market will continue to fluctuate steadily next week.

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