SunSirs: Domestic Market Dynamics of Toluene on April 18, 2023
April 19 2023 11:24:30 SunSirs (John)
Summary of Toluene Prices on April 18, 2023:
Shijiazhuang Petrochemical quoted 7,650 RMB/ton, Qilu Petrochemical quoted 7,600 RMB/ton, Yangba quoted 7,600 RMB/ton, Maoming Petrochemical quoted 7,400 RMB/ton, Guangzhou Petrochemical quoted 7,450 RMB/ton, and Changling Petrochemical quoted 7,650 RMB/ton.
Fluctuation trend:
Analysis review
In terms of crude oil, G7 Group said that it would maintain the Price ceiling of 60 US dollars/barrel for Russian marine oil to balance the oil market price; US anti inflation concerns have increased expectations for the Federal Reserve to raise interest rates in May, leading to a stronger US dollar and pressure on oil prices; On the downstream end, gasoline stocking before May Day had boosted domestic crude oil demand, and people's travel demand was strong, which was beneficial for the toluene market. Overall, the upstream and downstream support for toluene is acceptable, and the demand for toluene is improving in the short term. The quotation for toluene in North and South China was increased by 100 RMB/ton on April 18th.
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