Price Trend
The domestic toluene Market recovered slightly this week, with a weekly decline of about 1.13%, due to the weakening global economic outlook and the decline in crude oil, according to the business associations’data.
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II. Analytical Review
1. Products: Toluene market prices were stable from the beginning of the week to the middle of the week. Driven by the drop in oil prices in the latter half of the week, prices began to recover. At present, the mainstream prices in East China are around 5400-5450 yuan/ton. According to the feedback from traders, the shipment is not smooth this week. Compared with last week, port inventory has dropped by nearly 5,000 tons, but it still has 32,000 tons.
2. Industrial chain:
Upstream, crude oil, this week’s strong rebound in oil prices, compared with last week, this week’s spot Brent fell 8.98%, Brent futures fell 7.43%, WTI futures fell 8.09%, Dubai futures fell 5.69%.
Downstream, PX market, downstream PTA by the impact of summer parking overhaul, strengthening PTA goods less favorable, PTA market price is strong; TDI market, East China TDI market inquiries light, real single transaction downturn, follow-up market delivery is the main.
3. Future Market Forecast
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Toluene analysts from Business, Social and Chemical Branch believe that next week we need to focus on the US-Iraq situation, the progress of Sino-US trade negotiations, and the fluctuation of demand for crude oil in the global economic outlook. Taken together, the toluene market is expected to continue to pull back slightly next week.