SunSirs: Domestic Market Dynamics of Toluene on May 24, 2023
May 25 2023 09:51:07 SunSirs (John)
Summary of mixed toluene prices on May 24th
Shijiazhuang Petrochemical quoted 7,150 RMB/ton, Qilu Petrochemical quoted 7,100 RMB/ton, Yangba quoted 7,50 RMB/ton, Sinopec Maoming quoted 6,900 RMB/ton, Wuhan Ethylene quoted 7,100 RMB/ton, and Changling Petrochemical quoted 7,100 RMB/ton.
Fluctuation trend:
Analysis review
In terms of crude oil, OPEC+ further reduced production to support oil prices. The market was waiting for the results of the US debt ceiling negotiations. International crude oil continued to rise on Tuesday. Some downstream TDI refineries of toluene continued to shut down, and procurement was carried out as needed. PX prices fell, and the unit load remained stable. The arrival of the Memorial Day holiday in the United States marked the beginning of the peak driving season in the summer, with an increase in gasoline demand, which was beneficial for oil prices. Affected by macroeconomic sentiment, it is expected that the price of toluene will continue to rise slightly.
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