Price Trends

According to data from SunSirs’ bulk commodity data base, the domestic toluene market rises by 4.83% this week due to the rebound in market transactions and in international crude oil prices.

Market Analysis

Products: Last week, the market slightly improved this week with increasing the transaction volume.

At present, the mainstream price in East China is around RMB 5,750-5,820 yuan/ton. As per feedback from traders, the turnover increases. The port inventory slightly falls to 26,000 tons.

Industry chain: In terms of upstream, crude oil, its price generally fluctuates this week, with Brent Spot increasing by 1.18%, Brent Future increasing by 1.21%, WTI Future decreasing by 0.66%, and Dubai Future increasing by 2.73%.

As for downstream, the domestic TDI market price has slightly reduced this week. The average market price in the East China region is around RMB 00 yuan/ton. It is expected that the TDI market will be weakly traded sideways in the late period. For PX market, the domestic PX price trend is temporarily stable this week. The external disk price rises slightly. The price is roughly US$ 768-770 /ton FOB Korea and US$ 788-790 /ton CFR China. It is expected that the PX market price will remain at RMB 6,800 yuan/tons in the short term.

Market Forecasting

According to SunSirs’ xylene analysts, the key is on the volume of market transactions and port inventory next week. Meanwhile, in terms of political issues, the progress of China-US trade negotiations will be paid attention. Plus, SunSirs analysts will cover how weak global economic indication impacts the demand for crude oil to support this topic. Overall, it is predicted that   the toluene market will continue to fluctuate smoothly next week.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com