1、 Price trend

According to the data of the large list of business agencies, the domestic toluene market fell in shock this week, down about 0.53% as of Friday.

2、 Analysis and comment

1. Product: influenced by the coming of the long holiday in Europe and America, the market fell in shock this week compared with last week. At present, the mainstream price in East China is about 5550-5600 yuan / ton. According to the feedback from traders, the market is cautious. Compared with last week, the turnover this week picked up slightly, and the port inventory dropped significantly, about 17000 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, this week, the domestic TDI market recovered slightly, and the market transaction was light. The quotation of domestic goods with bills in East China was 11000-11200 yuan / ton, and that of Shanghai goods with bills was 11300-11400 yuan / ton. It is expected that the TDI market will maintain a weak shock later. In PX market, the external price is about 801-803 US dollars / ton FOB South Korea and 821-823 US dollars / ton CFR China. Influenced by the long holiday in Europe and America, the downstream textile industry has entered the seasonal off-season of demand. It is expected that the PX market price will maintain 6700 yuan / ton next week.

3、 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.