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[Industry Focus]：The price fluctuation of toluene market is limited under the interweaving of long and short.

Read： 533 Time：6months ago Source：百川盈孚

Market Dynamics of Toluene in Shandong, 1.

Recently, the toluene market in Shandong showed a steady upward trend. Driven by the rise in crude oil prices, the demand for the oil transfer end gradually picked up, and the willingness of downstream refineries to purchase toluene increased. As of noon on May 23, the mainstream offer range of Shandong refinery was 7200-7400 yuan/ton, up slightly from last week. In the context of strong downstream demand, manufacturers are shipping well and quotations are rising steadily. Although market transactions began to shrink with the end of the replenishment period, low inventories still supported market prices. In addition, the price difference between pure benzene and toluene remains at a reasonable level, and the disproportionation profit is considerable, which also provides additional support for market prices. It is expected that in the short term, the market price of toluene in Shandong will continue to maintain a strong trend.

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2. East China toluene market trend

the toluene market in East China has shown some volatility recently. Port inventories continued to decline at the beginning of the week, tight supply in the region, superimposed on the boost effect of rising crude oil prices, terminal offer prices higher. However, in stock transactions are limited, and on-market transactions are dominated by exchange. As crude oil prices turned into a downward trend, the East China terminal offer fell slightly, but the overall market remained stable. Currently, the spread between pure benzene and toluene remains at a high level toluene Price it provides some support. Although the market is under certain pressure in the short term, considering the tight supply situation, it is expected that the East China toluene market will maintain a range consolidation trend, and the price fluctuation range is limited.

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3. South China toluene market overview

the toluene market in South China has also shown a certain adjustment trend in the near future. The listing price of petrochemical enterprises has been raised, and the listing price range of petrochemical enterprises in the region is 7550-7600 yuan/ton. Despite the tight performance of the supply side, but the downstream industry is low, demand is difficult to effectively improve. In addition, the resumption of a 120000-ton toluene plant and the end of the new maintenance enterprises formed a hedge, the overall market supply is still in a tight state. In the case of supply and demand confrontation, it is expected that the price of toluene in the South China market will maintain a stalemate in the short term.

The toluene market in Shandong, East China and South China has its own characteristics. Although it is affected by the fluctuation of crude oil price, the supply and demand situation, inventory level and the price difference between pure benzene and toluene in various regions have an important impact on the market price. In the future, the market will continue to be affected by these factors. Investors and industry insiders need to pay close attention to market dynamics in order to make more accurate market judgments.

Source: Baichuan Yingfu

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