I. price trend

According to the data of the business club’s bulk list, the domestic toluene market this week was stable, up about 0.67% as of Friday.

II. Analysis and comment

1. Products: compared with last week, the market price of this week is stable. At present, the mainstream price in East China is about 5650-5700 yuan / ton. According to the feedback from traders, trading volume shrank slightly this week compared with last week, and the port inventory increased significantly, about 28000 tons.

2. Industrial chain:

Upstream, in terms of crude oil, this week’s oil price is generally volatile. As of Friday, spot Brent fell 0.08%, Brent futures rose 0.33%, WTI futures fell 0.07%, and Dubai futures rose 1.51%.

On the downstream side, on the TDI side, the domestic TDI market fell slightly this week, with few enquiries and purchases. In East China, the price of domestic goods with bills and domestic goods with bills was 10800-10900 yuan / ton, and that of Shanghai goods with bills was 11100-11300 yuan / ton. It is expected that the TDI market will maintain a weak shock later. In PX market, the price of external market is about 790-792 US dollars / ton FOB South Korea and 811-813 US dollars / ton CFR China. The demand of downstream textile industry has not improved, and the supply of domestic PX market is normal. It is expected that the price of PX market will maintain 6700 yuan / ton next week.

 
III. future forecast

According to xylene analysts from the chemical branch of business society, we will continue to focus on the market turnover and port inventory next week, as well as the progress of Sino US trade negotiations and the crude oil trend under the expectation of OPEC production reduction. In general, with the coming of the long holiday in Europe and the United States, it is expected that the toluene market will continue to fluctuate steadily next week.