According to the data of business associations, the domestic toluene Market as a whole was weak last week. The price of toluene fell compared with last week. At the beginning of the week, the price of enterprises declined and remained stable at the weekend. At the beginning of the week, the average price of enterprises was 5112 yuan per ton, while at the end of the week, the average price of enterprises was 5002 yuan per ton, with a decline of 2.16%.
II. Analytical Review
1. Products: Toluene market prices fell earlier this week. Due to the influence of the Dragon Boat Festival holidays on the weekend, the mainstream turnover in the market is around 4950 yuan/ton. Toluene manufacturers are losing money. Port stocks in East China are around 53,000 tons, up 0.16 million tons from 51,300 tons on May 30 (last Thursday). Spring inspection of domestic toluene factories has been completed, parking devices have been started, and the market supply has increased. Some downstream units of toluene were put into operation in July, and it is expected that demand side will restrict the rise of toluene price in June.
2. Industrial chain:
Upstream, affected by the increase in U.S. crude oil inventories and trade wars, European and American crude oil futures fell to their lowest level since January this week. Brent crude oil range was between $60.63 and $64.49 per ton, with a weekly decline of about 5.99%.
On the downstream side, the price trend of domestic p-xylene market is declining, downstream PTA plant is unstable, upstream cost surface oil prices continue to decline, naphtha and MX are difficult to support, cost demand is double negative, short-term PX price is weak; on the TDI market, end users are mostly stockpiling in the market at present, demand has been obviously overdrawn, follow-up market is difficult to say optimistic, while TDI suppliers are large. After bulk delivery, inventory pressure is likely to weaken. Under the supply-demand game, the TDI market ends weakly and steadily. Overall demand is constrained by the rise in toluene Market prices.
3. Future Market Forecast
Analysts of toluene in the branch of business society and chemical industry believe that in general, the market of toluene is still expected to be weak next week. Focus on whether US crude oil can sustain $50/barrel, vulnerable shocks are more likely; downstream PX device starts, the market mainly focuses on Sinochem Hongrun PX device starts, but at present other major downstream purchasing intentions are general, the buying atmosphere is insufficient, inventory continues to be high, the market is in a stalemate stage.
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