1、 Price trend
The domestic toluene market fell sharply this week, down 7.21% as of Friday, according to the data in the business club’s bulk list.
2、 Analysis and comment
1. Product: during last week’s long holiday in China, overseas markets were worried about the impact of the global new coronavirus epidemic on oil demand, which led to a sharp drop in the price of international crude oil market. Affected by this, the price of toluene in domestic market fell sharply this week. At present, the mainstream price in East China is about 5230 yuan / ton..
2. Industrial chain:
Upstream, in terms of crude oil, worried about the impact of the global new crown virus epidemic on oil demand, the international oil price this week showed an overall trend of shock and anti decline. As of Friday, Brent fell 4.76% at sight, Brent futures fell 4.80%, WTI futures fell 1.04% and Dubai futures fell 5.59%.
On the downstream side, in terms of TDI, at present, the external market is about US $644 / T fobara, and domestic enterprises have not yet returned to work and have not yet made a quotation. It is expected that the future TDI market will follow the lead to make up the decline. In the PX market, the domestic market price this week followed the make-up drop, which is about 6300 yuan / ton at present. The latest price of the external market is about 718 US dollars / ton FOB South Korea and 738 US dollars / ton CFR China. It is expected that the PX market price will maintain 6300 yuan / ton next week.
3、 Future forecast
Toluene analyst of business and chemical branch said: continue to focus on the trend of crude oil next week. On the whole, as the resumption of work is approaching, it is expected that the toluene market will experience a small shock rebound trend next week.