The domestic toluene market was generally stable this week, with prices slightly falling, down about 1.3% this week, as a result of the fall in international crude oil, according to business associations’big list data.
II. Analytical Review
1. Products: The trend of toluene market is steady this week. At present, the mainstream price in East China is around 5400 yuan/ton. According to the feedback from traders, the turnover this week was not satisfactory. Compared with last week, the port inventory increased by 5,000 tons, reaching about 45,000 tons.
2. Industrial chain:
Upstream, crude oil, affected by fears of global economic recession, another round of interest rate cuts by the global central bank and tariff imposition by Trump, fell sharply this week compared with last week, with spot Brent down 7.73%, Brent futures down 7.5%, WTI futures down 5.77%, Dubai futures down 5.88%.
Downstream, TDI, prices fell, trading is not strong, short-term TDI is expected to maintain a small volatility consolidation trend. In the PX market, the decline of the external price has a negative impact on the domestic PX market price. The domestic PX price trend is temporarily stable. It is expected that the short-term PX market price will maintain a volatile trend.
3. Future Market Forecast
Xylene analysts from Business, Social and Chemical Branch believe that next week we will continue to focus on the trend of the situation in the Middle East, the United States and Iraq, the follow-up game of Sino-US trade negotiations, and the expected fluctuation of crude oil demand in the global economic outlook after a new round of interest rate cuts by the global central bank. Overall, the toluene market is expected to experience a slight fluctuation next week.