Price Trend

According to the data of business associations, toluene market prices in China were high and volatile this week, but they were higher than last week. Prices of enterprises were stable at the beginning of the week and continued to rise from mid-week to weekend. At the beginning of the week, the average price of enterprises was 5,000 yuan per ton per week, and at the end of the week, the average price of enterprises was 5,073 yuan per ton per week, with a weekly increase of 1.47%.

II. Analytical Review

1. Products: Toluene market prices were stable in the early part of this week. Due to the impact of crude oil on prices in the middle of the week, the current market mainstream transaction price is around 5180-5230 yuan/ton. Downstream demand has improved. Port stocks have consumed China. Stocks in the eastern region are around 38,000 tons, down by about 60,000 tons from 44,000 tons on Thursday, June 13.

2. Industrial chain:

On the upstream side, in terms of crude oil, international oil prices fell first and then rose this week, with a slight overall rise. Geographical tensions between the United States and Iraq, increased supply contraction expectations and the Fed’s interest rate cut expectations are the main positive factors. Brent crude oil ranges from $60.01 to $64.38 per ton, with weekly low prices on June 18 and weekly high prices on the weekend, with a weekly amplitude of about 3.82%.

On the downstream side, PXN fell to $317.045/ton due to the sharp rise in oil prices and naphtha. The PX market is currently tight in July and August, and PTA and polyester are showing a rising trend, which supports PX and makes PX stronger. On the TDI market, the market warmed up slightly last week, the signs of the downstream surge weakened, and the turnover was slightly unsatisfactory. Second-hand merchants liquidated their positions and terminal warehouses increased. Mainly. Overall demand has improved.

3. Future Market Forecast

Analysts of toluene in the branch of business society and chemical industry believe that, in a word, the market of toluene is expected to fluctuate strongly next week. Next week, oil prices are expected to remain stable at high levels, with weak momentum to continue to move upwards, and US crude oil is expected to stabilize at $55 a barrel. PX downstream market has been supported, prices are still rising trend; next week, under TDI supply and demand game, expected volume contraction, there is no lack of small potential for growth, demand has improved, toluene market is strong next week.