On June 24, Sinopec South China Company set its listed price for xylene at 6,450 RMB/ton. The markets for toluene and xylene continued to consolidate at low levels. Overnight trading saw further declines in crude oil and bulk aromatics futures; with weak cost-side support and cautious buying sentiment, downstream players largely limited purchases to immediate needs, resulting in low trading activity. However, month-end holding costs provided some support, while maintenance at certain production facilities and manageable port inventory levels limited the downside for prices. Amidst prevailing bearish factors, prices for toluene and xylene are likely to continue fluctuating weakly in the short term.

Analysis and Commentary

Xylene

Regarding the spot market, support is weak due to overnight declines in crude oil and aromatics prices. Market sentiment is cautious, with downstream buyers largely limiting purchases to immediate needs, resulting in low trading activity. However, factors such as month-end holding costs, maintenance at certain production facilities, and manageable port inventory levels are limiting the downside for prices; in the short term, prices are likely to remain weak and range-bound, with the overall outlook leaning bearish.

Toluene

Regarding the spot market, prices lack support due to overnight declines in crude oil and aromatics; market sentiment is cautious, with downstream buyers largely limiting purchases to immediate needs and overall trading activity remaining low. However, factors such as month-end holding costs, maintenance at certain production facilities, and manageable port inventory levels are limiting the downside for prices. In the short term, prices are likely to experience weak, fluctuating movement, with the overall outlook leaning bearish.

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