1、 Price trend
According to the data of the business club’s bulk list, the domestic toluene market price fell sharply this week, as of Friday, 5.04% lower than last week.
2、 Analysis and comment
| Thiourea dioxide |
1. Product: due to the collapse of OPEC + production reduction agreement between OPEC and Russia, coupled with the continuous spread of overseas epidemics, and the fear of shrinking demand for crude oil, the international crude oil price fell sharply this week, as well as the price of toluene in South Korea market. Although domestic enterprises have entered the resumption period and the market demand has gradually improved, the domestic toluene price still follows the decline. At present, East China The main price is about 4800 yuan / ton.
2. Industrial chain:
Upstream, in terms of crude oil, the international oil price rebounded at the beginning of this week and fluctuated steadily. As of Friday, Brent futures rose 2.01%, Brent futures rose 2.94%, WTI futures rose 2.49% and Dubai futures rose 3.65%.
In the downstream, TDI, at present, the price of toluene TDI is about $557 / T FOB ARA, and the price of domestic goods delivered with tickets is 11000 yuan / T for reference. Affected by the slow recovery of downstream demand, it is expected that the TDI market will stabilize after the bottom exploration next week. In PX market, this week, the price of domestic Sinopec’s enterprises is about 6200 yuan / ton, and the latest price of the external market is about 665 US dollars / ton for FOB South Korea and 683 US dollars / ton for CFR China. It is expected that PX market price will stabilize after the bottom is reached next week.
| Thiourea |
3、 Future forecast
Toluene analyst of business and chemical branch said: next week, we will continue to focus on the news of OPEC + production reduction agreement, worries about the global economy due to the continuous spread of overseas epidemic, international crude oil trend and the progress of downstream enterprises’ resumption. On the whole, it is expected that the price of toluene in the international crude oil market and South Korean market will rebound in the next week, adding that domestic enterprises will gradually enter the resumption period, and the market demand will gradually improve. It is expected that the price of toluene in the domestic market will stabilize in the next week.
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