SunSirs: Demand Was Weak, and the Toluene Market Was Stable

Price trend

According to the SunSirs Commodity Market Analysis System, the toluene market experienced minimal fluctuations from September 8 to 15, 2025. The benchmark price of toluene remained unchanged at 5,360 RMB/ton on September 8 and 15, respectively. Fluctuations in the domestic toluene market were limited during this period, with slight variations across various markets. In Shandong, driven by the toluene-xylene price differential, downstream purchasing activity increased, with strong intra-week purchasing activity leading to a slight increase in quotes from major refineries. The East China market remained relatively stable, with weak downstream market entry activity. The South China market lacked clear news guidance, resulting in minimal market fluctuations. Overall, the toluene market experienced limited volatility last week.

Analysis review

Cost side:

According to the SunSirs commodity market analysis system, as of September 12, international crude oil futures closed higher, with the October contract of US WTI crude oil futures settling at $62.69 per barrel. The November contract of Brent crude oil futures settled at $66.99 per barrel.

Supply side:

Sinopec's toluene operations were operating normally, with stable production and production primarily for self-use. Production and sales remained stable. As of September 15th, the East China company quoted 5,350 RMB/ton, the North China company 5,300 RMB/ton, the South China company 5,300-5,400 RMB/ton, and the Central China company 5,450 RMB/ton.

Demand Side:

On September 15th, Sinopec Sales Company quoted a temporary stabilization of paraxylene prices at 7,200 RMB/ton. This price applies to all regions in East China, North China, Central China, and South China. Plants at Yangzi Petrochemical and Zhenhai Petrochemical were operating stably, and sales were normal. As of September 4th, the closing price of paraxylene in the Asian market was $807-809/ton FOB Korea and $832-834/ton CFR China.

Future outlook:

Recent crude oil market fluctuations have been minimal, with limited impact on the spot market, and the macroeconomic outlook was relatively stable. From a supply and demand perspective, the recent performance of the blending market in some regions has been strong, providing some support, but overall downstream demand has been mediocre. The market is expected to remain stable in the near term, with limited fluctuations.

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