According to the commodity market analysis system of SunSirs, the toluene market rose first and then fell in May 2025, with an overall slight increase. From May 1 to 28, the domestic toluene market price rose from 5,390 RMB/ton to 5,470 RMB/ton, with a price increase of 1.48% during the period.

First half of the month: After the May Day holiday, the crude oil market fell first and then rose, and the overall fluctuation rose, driving the toluene market atmosphere. The recent market fluctuations were mainly affected by the market atmosphere, and the impact from the supply side was weak.

After the holiday, the demand for oil blending in Shandong was still good, and some downstream companies entered the market for procurement. The inventory of refineries in Shandong was generally running at a low level, and the ex-factory prices of the main refineries were generally raised. The market sentiment in East China is still weak, and the market trading is slightly deserted. Overall, the toluene market fell first and then rose in this cycle, basically following the trend of crude oil.

Second half of the month: The toluene market fluctuated downward and then stabilized, the sales situation in Shandong was good, the enthusiasm of the oil blending industry to enter the market was good, and the overall demand was rigid demand. The market atmosphere in East China and South China is relatively cold.

Cost side: In May, international oil prices fell first and then rose, and the overall price fluctuated higher. As of the 26th, the US WTI crude oil market was closed, and the settlement price of the main contract of Brent crude oil futures was US$64.74 per barrel. On the one hand, the Middle East issue is tense again, which is good for the international oil market and the crude oil price trend is rising; on the other hand, the United States has increased its oil restrictions on a certain country, and the Sino-US tariff issue has eased, and the international oil price trend has risen.

Supply side: Sinopec's toluene enterprises are operating normally, the production of the equipment is stable, the products are mostly for self-use, and the production and sales are stable. As of May 28, the East China Company quoted 5,400 RMB/ton, the North China Company quoted 5,500 RMB/ton, the South China Company quoted 5,350-5,450 RMB/ton, and the Central China Company quoted 5,500 RMB/ton.

Demand side:

According to the commodity market analysis system of SunSirs, as of May 29, 2025, the price of paraxylene of Sinopec Sales Company is temporarily stable, and the current execution price is 6,850 RMB/ton. East China, North China, Central China and South China all implement this price. The operation of Yangzi Petrochemical, Zhenhai Petrochemical and other units is stable and the sales are normal, which is 50 RMB/ton lower than the price on April 27. As of May 28, the closing price of paraxylene in the Asian market was 811-813 US dollars/ton FOB Korea and 836-838 US dollars/ton CFR China, an increase of 92 US dollars/ton from April 24.

Forecast for the future market: The crude oil market has fluctuated significantly recently, and the toluene market has been greatly affected. The supply and demand level has not changed much recently, and the downstream is mainly rigid demand. Under the influence of crude oil fluctuations, the toluene market is expected to fluctuate mainly within a range in the near future, with specific attention paid to the trend of crude oil.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.