Price Trend
The domestic toluene market overall closed up slightly this week, with a weekly increase of about 0.9%, according to the business associations’big list data. East China has a good market, rising by about 100 yuan/ton.
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II. Analytical Review
1. Products: Influenced by the rise of crude oil upstream and the improvement of market turnover, the trend of toluene market has been steadily rising this week. At present, the mainstream price in East China is around 5650-5700 yuan/ton. According to the feedback from traders, this week’s volume and price have risen sharply. Compared with last week, the turnover has continued to improve. The port stock has dropped by about 10,000 tons, and is now about 34,000 tons.
2. Industrial chain:
Upstream, crude oil prices jumped sharply from last week. Oil prices rebounded slightly this week, with spot Brent up 2.36%, Brent futures up 2.04%, WTI futures up 0.99%, Dubai futures up 3.58%.
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Downstream, TDI, prices continue to fall this week, trading is not strong, short-term TDI is expected to remain short trend. On the PX market, the price of external market fell slightly this week, while the domestic price of PX was stable. It is expected that the short-term price of PX market will maintain a stable trend.
3. Future Market Forecast
Xylene analysts from Business, Social and Chemical Branch believe that next week we will continue to focus on the progress of tariff increases in Sino-US trade negotiations, and the European and American economies are worried about the expected fluctuations in demand for crude oil in the recession prospects. Overall, the toluene market is expected to move smoothly next week.
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