Price trend

According to the SunSirs Commodity Market Analysis System, the toluene market saw minimal fluctuations from September 15 to 22, 2025. The benchmark price of toluene was 5,360 RMB/ton on September 15, and 5,380 RMB/ton on September 22, a 0.37% increase. Fluctuations in the domestic toluene market were limited during this period. Supply and demand in Shandong Province remained stable, with demand in the downstream chemical and oil blending industries remaining stable and purchasing driven by rigid demand. The East China market remained relatively stable, with lower downstream market participation. The South China market lacked clear news guidance, resulting in minimal market fluctuations. Overall, fluctuations in the toluene market were limited last week.

Analysis review

Cost: According to the SunSirs commodity market analysis system, as of September 19, the November settlement price of the US WTI crude oil futures contract was $62.40 per barrel. The December settlement price of the Brent crude oil futures contract was $66.04 per barrel.

Supply:

Sinopec's toluene operations were operating normally, with stable production and production primarily for self-use. Production and sales remained stable. As of September 22nd, the East China company quoted 5,350 RMB/ton, the North China company quoted 5,300 RMB/ton, the South China company quoted 5,300-5,400 RMB/ton, and the Central China company quoted 5,450 RMB/ton.

Demand Side:

On September 22nd, Sinopec Sales Company quoted a temporary stabilization of paraxylene prices at 7,200 RMB/ton. This price applied to all regions in East China, North China, Central China, and South China. Plants at Yangzi Petrochemical and Zhenhai Petrochemical are operating stably, and sales were normal. As of September 19th, the closing price of paraxylene in the Asian market was $791-793/ton FOB Korea and $816-818/ton CFR China.

Market outlook

Recent crude oil market fluctuations have been minimal, with limited impact on the spot market, and the macroeconomic outlook was relatively stable. Regarding supply and demand, Shandong's recent export sales have decreased, primarily due to domestic consumption, which had a limited impact on the market. On the demand side, with the holiday approaching, downstream demand was building up for pre-holiday stockpiling, with inventory replenishment primarily based on demand. Overall, toluene news has been relatively muted recently, and the market is expected to remain stable in the short term, with limited volatility.

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