1、 Price trend
The domestic toluene market fell slightly this week, down 1.19% as of Friday, according to the data in the business club’s bulk list.
2、 Analysis and comment
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1. Product: affected by high inventory and low downstream operating rate, the price of toluene in domestic market continues to bottom out this week. At present, the mainstream price in East China is about 5100 yuan / ton.
2. Industrial chain:
Upstream, in terms of crude oil, the overall international oil price this week showed a shock rebound trend. As of Friday, Brent rose 4.07% at sight, Brent futures rose 2.03%, WTI futures rose 2.20%, and Dubai futures rose 0.31%.
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On the downstream side, in terms of TDI, the current external market is about US $660 / T FOB Ara. Domestic enterprises have not yet returned to work and have not yet made a quotation. It is expected that the future TDI market will follow suit. In PX market, the domestic market price this week is about 6300 yuan / ton, and the latest price on the outside market is about 717 US dollars / ton FOB South Korea and 737 US dollars / ton CFR China. It is expected that PX market price will maintain a stable trend next week.
3、 Future forecast
Toluene analyst of business and chemical branch said: continue to focus on the trend of crude oil next week. In general, with the return to work of the enterprise approaching, the superimposed crude oil price takes the lead in stabilizing and rebounding. It is expected that the toluene market will experience a small shock and rebound trend next week.
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