According to the Commodity Market Analysis System of Shengyi Society, the mixed xylene market fluctuated within a certain range this week, with a slight overall downward adjustment. From March 17 to March 24, 2025, the mixed xylene price dropped from 6360 yuan/ton to 6330 yuan/ton, a decrease of 0.47%. This week, there were slight differences in the performance of the domestic mixed xylene market across different regions. Due to poor downstream demand, prices in the Shandong region fell overall during the week, and local refineries continuously lowered their factory quotes and actively shipped. Affected by tight supply within the region, market prices in East and South China have remained stable with slight increases, but actual transactions in the market are limited and demand performance is weak.

Cost aspect: Crude oil prices have fluctuated upwards during this cycle. As of the 21st, the settlement price of the main contract for WTI crude oil futures in the United States was $68.28 per barrel, an increase of $1.73 per barrel compared to the same period last week. The settlement price of the main Brent crude oil futures contract was $71.61 per barrel, up $1.73 per barrel from the same period last week.

Supply side: Sinopec xylene quotation summary. Currently, the company is operating normally, with stable production and sales of equipment. The company’s quotation remains unchanged from the previous day. As of March 24th, East China Company quoted 6300 yuan/ton, North China Company quoted 6000-6100 yuan/ton, South China Company quoted 6500-6550 yuan/ton, and Central China Company quoted 6300 yuan/ton.

Demand side:

On March 24th, the price of xylene in the petrochemical sales company was temporarily stable, and the current execution price is 7600 yuan/ton. This price is implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other units are operating stably, with normal sales, and the price is unchanged from March 17th. As of March 21, the closing prices of the xylene market in Asia were $817-819/ton FOB Korea and $842-844/ton CFR China, up $5/ton from March 14.

Market forecast: The crude oil market is expected to rise slightly near the weekend, providing some support for the market. Overall, the supply of xylene in East and South China remains tight, which still supports market sentiment. The downstream demand in Shandong region has been weak recently, which has limited support for the market. Overall, the toluene market is expected to continue its trend this week next Tuesday, with Shandong showing a moderate to weak trend and East and South China showing a strong trend.