According to the Commodity Market Analysis System of Shengyi Society, the toluene market fluctuated and rose from July 28 to August 4, 2025. On July 28th, the benchmark price of toluene was 54900 yuan/ton, and on August 4th, the benchmark price of toluene was 5580 yuan/ton, an increase of 1.64%. This week, the domestic toluene market was dominated by the maintenance of Dongming Petrochemical in Shandong Province and the load reduction of Yulong Petrochemical, which affected the supply within the province. The tight supply boosted mainstream refineries to raise prices one after another. Recently, there has been a shortage of goods arriving at ports in East and South China, and due to tight supply, prices have risen overall this week.
Cost wise: As of August 1st, international crude oil futures closed down, with the settlement price of the September WTI crude oil futures contract in the United States at $67.33 per barrel. The settlement price of Brent crude oil futures for October contract is $69.67 per barrel. The market is concerned that OPEC may increase oil production, coupled with US employment data dragging down the demand outlook.
Supply side:
Sinopec’s toluene enterprise is operating normally, with stable production of equipment and many products for personal use, resulting in stable production and sales. As of August 4th, East China Company quoted 5500 yuan/ton, North China Company quoted 5500 yuan/ton, South China Company quoted 5750-5800 yuan/ton, and Central China Company quoted 5600 yuan/ton.
Demand side:
On August 4th, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 7000 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 and sales are normal. The price has been reduced by 250 yuan/ton compared to July 28th. As of August 1st, the closing prices of the xylene market in Asia were $834-836/ton FOB Korea and $859-861/ton CFR China, a decrease of $13/ton from July 25th.
Market forecast: Some devices on the supply side will be put into operation in the near future, while others will undergo maintenance, with little change in the supply side. From the demand side, the overall demand for downstream oil blending and chemical industries is weak, and the demand side is more rigid. Overall, the supply and demand performance is stable but slightly bearish, and it is expected that the toluene market will fluctuate in the short term.
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