I. price trend
The domestic toluene market continued to recover this week, down about 1.9% due to weaker downstream demand, shrinking transaction volume and increased port inventory, according to the data in the bulk list of business agencies.
| Thiourea dioxide |
II. Analysis and comment
1. Products: affected by the weakening downstream demand, shrinking transaction volume and increasing port inventory, the domestic toluene market continued to pull back this week. At present, the mainstream price in East China is around 5850-5900 yuan / ton. According to the feedback from traders, last week’s trading volume continued to shrink and the port inventory surged to about 38000 tons.
2. Industrial chain:
Upstream, crude oil prices rebounded steadily this week, with Brent up 3.05%, Brent futures up 3.24%, WTI futures up 4.38% and Dubai futures up 2.18%.
| Thiourea |
In the downstream, TDI, the market is weak and volatile, and the transaction is not prosperous. At present, the quotation of domestic goods with bills is 12700-12800 yuan / ton, and that of Shanghai goods with bills is 13000 yuan / ton. In PX market, the trend of domestic PX price is stable temporarily, and the price of external market is rising. It is expected that the market price of PX will maintain about 6800 yuan / ton in the short term.
III. future forecast
Xylene analysts of business and Chemical Bureau said: next week, we will continue to focus on the expected fluctuation of crude oil demand due to the weak outlook of global economic indicators. Due to the expected arrival of large quantities of toluene at the end of the month, traders are cautious at present. On the whole, it is expected that the toluene market will continue to fluctuate and adjust next week.
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