I. price trend

The domestic toluene market rebounded in shock this week, up about 0.93% as of Friday, according to the data in the business club’s bulk list.

II. Analysis and comment

1. Products: compared with the previous week, the market price of this week rebounded and transactions were active. At present, the mainstream price in East China is around 5800 yuan / ton. According to the feedback from traders, the trading was stable this week compared with last week, and the port inventory increased slightly, about 20000 tons.

2. Industrial chain:

Upstream, in terms of crude oil, this week’s oil prices generally showed a bottoming recovery trend, with Brent up 1.07% at sight, Brent futures up 1.3%, WTI futures flat, and Dubai futures up 2.64%.

In the downstream, TDI, the domestic TDI market fell slightly this week, and the industry was cautious. The quotation of domestic goods with bills in East China was 13000-13100 yuan / ton, and that of Shanghai goods with bills was 13200-13300 yuan / ton. It is expected that the TDI market will maintain a weak shock in the later period. In the PX market, the price of external market is slightly higher, the operating rate of downstream textile industry is slightly lower, 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 market turnover, port inventory, progress of Sino US trade negotiations and crude oil trend next week. Overall, it is expected that the toluene market will continue to fluctuate slightly next week.