SunSirs: On April 12, 2023, the Domestic Market Dynamics of Toluene
April 13 2023 11:47:45 SunSirs (John)
Summary of Toluene Prices as of April 12, 2023:
Shijiazhuang Petrochemical quoted 7,450 RMB/ton, Qilu Petrochemical quoted 7,400 RMB/ton, Yangba quoted 7,450 RMB/ton, Tianjin Petrochemical quoted 7,400 RMB/ton, Wuhan Ethylene quoted 7,450 RMB/ton, and Changling Petrochemical quoted 7,450 RMB/ton.
Fluctuation trend:
Analysis review
In terms of crude oil, the price of oil rebounded in a V-shaped pattern on Tuesday; OPEC's oil production decreased in March, and many countries had announced voluntary oil production cuts. Global crude oil demand remained growing, and there was little possibility of a significant drop in oil prices. Oil prices may mainly fluctuate upward, but downstream consumers may have a lower acceptance of high oil prices, which may affect the performance of the demand side in the future. Overall, the price of toluene was developing positively overall.
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