I. price trend

According to the data of the business club’s bulk list, the market was stable, cautious and inventory remained low. This week, the domestic toluene Market slightly fell 0.88.

II. Analysis and comment

1. Products: compared with last week, this week’s market trend is stable with little change in trading volume. At present, the mainstream price in East China is about 5700-5750 yuan / ton. According to the feedback from traders, last week’s trading volume was stable, and the port inventory continued to decline, about 19000 tons.

2. Industrial chain:

Upstream, in terms of crude oil, this week’s oil prices were generally volatile, with Brent up 1.95% at sight, Brent futures up 0.33%, WTI futures up 1.30% and Dubai futures up 0.31%.

On the downstream side, TDI, the domestic TDI market fell in a narrow range this week, and the attitude of the industry tends to be cautious. At present, the quotation of domestic goods with bills is 11300-11400 yuan / ton, and that of Shanghai goods with bills is 11600 yuan / ton. It is expected that the TDI market will be weak in the later period. In the PX market, the domestic PX price trend this week is temporarily stable, while the external market trend is stable. The price is about 768-770 US dollars / ton FOB South Korea and 788-790 US dollars / ton CFR China. It is expected that the short-term PX market price will remain around 6800 yuan / ton.

 
III. future forecast

According to xylene analyst of business and chemical branch, we will continue to focus on market turnover and port inventory next week, as well as the progress of Sino-U.S. trade negotiations, and the expected fluctuation of crude oil demand due to the weak prospect of global economic indicators. Overall, it is expected that the toluene market will continue to fluctuate steadily next week.