According to SunSirs commodity market analysis, the toluene market experienced a downward trend from August 29 to September 5, 2025. The benchmark price stood at 5,440 RMB/ton on August 29 and dropped to 5,360 RMB/ton on September 5, marking a 1.47% decline. The toluene market showed weak fluctuations during this period. Weakening crude oil prices in the latter half of the week dampened market sentiment, driving prices lower. In Shandong, prices declined overall this week due to the drag from the crude oil market. Trading activity in East China was sluggish, with offers generally low. In South China, ample supply dampened downstream buying interest. Major refineries cut prices, contributing to an overall weak market atmosphere.
Cost Perspective: Crude oil prices fluctuated at low levels this week. As of the 4th, the October WTI crude futures contract settled at $63.48/barrel, while the November Brent crude futures contract settled at $66.99/barrel. The crude oil market is influenced by both bullish and bearish factors. On one hand, geopolitical tensions remain a key driver, with the Russia-Ukraine situation supporting market strength. On the other hand, potential production increases from Saudi Arabia, rising U.S. crude inventories, and the conclusion of the U.S. peak demand season weigh on prices amid concerns over the global economic outlook and oil demand.
Supply Side:
Sinopec's toluene plants operate normally with stable production. Most output is for internal use, maintaining steady supply and sales. As of September 5, East China Company quoted CNY 5,350/ton, North China Company quoted CNY 5,300/ton, South China Company quoted CNY 5,300-5,400/ton, and Central China Company quoted CNY 5,450/ton.
|
Region |
Manufacturer |
August 29th |
September 5th |
|
Sinopec North China |
Shijiazhuang Refinery |
5300 |
5300 |
|
Tianjin Petrochemical |
5300 |
5300 |
|
|
Sinopec East China |
Shanghai Petrochemical |
5450 |
5350 |
|
Anqing Petrochemical |
5450 |
5350 |
|
|
Zhenhai Refining and Chemical |
5450 |
5350 |
|
|
Yangtze BASF |
5450 |
5350 |
|
|
Sinopec South China |
Guangzhou Petrochemical |
5600 |
5400 |
|
Maoming Petrochemical |
5550 |
5300 |
|
|
Sinopec Central China |
Hunan Petrochemical |
5550 |
5450 |
Demand Outlook:
On September 5, Sinopec Sales Company maintained stable paraxylene prices at RMB 7,200/ton, applicable across East China, North China, Central China, and South China. Facilities including Yangzi Petrochemical and Zhenhai Petrochemical operated stably with normal sales. As of September 4, Asian paraxylene market closing prices stood at USD 803-805/ton FOB Korea and USD 828-830/ton CFR China.
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