1、 Price trend
The domestic toluene market fell slightly this week, down 0.6% on last week as of Friday, according to the data in the business club’s bulk list.
| PVA 1788 (PVA BP17) |
2、 Analysis and comment
1. Product: due to the continuous spread of the epidemic and fear of the impact of the shrinking demand for crude oil, the international crude oil price fell sharply this week, and the price of toluene in the Korean market fell sharply. Although domestic enterprises gradually entered the resumption period, and the market demand gradually improved, the domestic toluene price still followed the decline. At present, the mainstream price in East China is about 4950 yuan / ton.
2. Industrial chain:
Upstream, in terms of crude oil, international oil prices fell sharply this week. As of Friday, spot Brent fell 10.76%, Brent futures fell 10.92%, WTI futures fell 11.41%, and Dubai futures fell 10.27%.
| PVA 1799 (PVA BF17) |
On the downstream side, TDI, at present, toluene TDI’s external offer is about USD 615 / T FOB ARA, and domestic goods with bills are quoted with reference to RMB 10500-11000 / T. due to the slow recovery of downstream demand, it is expected that the TDI market will stop falling and stabilize next week. In the PX market, Sinopec’s companies were listed at about 6300 yuan / ton this week, with the latest price of about 670 US dollars / ton FOB South Korea and 688 US dollars / ton CFR China. It is expected that the PX market price will stop falling and stabilize next week.
3、 Future forecast
Toluene analyst of business and chemical branch said: next week, we will continue to focus on the trend of crude oil and the progress of downstream enterprises’ resumption. On the whole, it is expected that the price of isomeric xylene in the international crude oil market and South Korean market will stop falling and recover next week. In addition, domestic enterprises will gradually enter the resumption period, and the market demand will gradually improve. Under the expectation, the price of toluene in the domestic market next week will be in shock and rebound trend.
| http://www.barium-chloride.com |