SunSirs: Toluene Market Weekly Report (5.22-5.29)
May 29 2023 14:16:29On May 29th, the benchmark price of toluene for SunSirs was 7130.00 RMB/ton, a decrease of -4.30% compared to the beginning of this month (7450.00 RMB/ton).
The import volume of crude oil in the United States has plummeted, while the export volume has increased, continuing to release strategic oil reserves; The market's expectation of the Fed's interest rate hike path is full of uncertainty, and awaits the results of the US bond default negotiations and OPEC+oil production meeting; At present, oil prices are still a game between the prospect of a macro recession and OPEC+production reduction.
Due to the impact of the macro environment, international oil prices may remain volatile. The main positive support for the toluene market currently comes from the gasoline industry, and it is expected that toluene will continue its narrow oscillation trend next week.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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