Toluene price rose against the trend this week (September 7 – September 13)

1、 Price trend


According to the data of the business club, the domestic toluene market rose steadily this week. As of Friday, the domestic average price was about 3450 yuan / ton, up 2.37% month on month.


sulphamic acid

2、 Analysis and comment


Toluene prices rose steadily this week. Sinopec’s enterprises listed toluene price stable this week. Port inventory continues to fall, but it is still high, and there is still pressure to go to the warehouse. The market supply is still surplus, but the demand for blended oil and solvent in the downstream shows signs of improvement, the demand for toluene is slightly improved, the market trading atmosphere is slightly improved, and the overall supply and demand situation tends to be balanced. At present, the mainstream price in East China is about 3450 yuan / ton. Worries about the reduction of crude oil demand caused by the new coronavirus epidemic and the impact of geopolitical tightening on economic recovery worries, the future market continued to pay attention to the fluctuation of US dollar index and stock market, the influence of geopolitical situation in the Middle East on crude oil supply, the development progress of new coronavirus vaccine and the continuous spread of overseas epidemic situation, the impact of economic restart recovery on crude oil demand, as well as the situation of global economic recovery and Europe us push The progress of the economic recovery rescue plan.


Upstream, crude oil novel coronavirus pneumonia is facing a severe global epidemic situation, exacerbating the energy demand outlook. In addition, U.S. crude oil inventories rose unexpectedly, traders began to re order oil tankers to store crude oil and diesel oil, Saudi Arabia cut prices sharply, and the situation of global oversupply will continue. As of Friday, spot Brent fell $2.165/barrel to close at $39.045/barrel, down 5.25% from last week. Analysts and traders are short on the outlook for next week’s crude oil, according to fx168′s weekly financial market survey released on Saturday (September 12). Next week will focus on the OPEC + market surveillance group meeting to be held on September 17.


Sulfamic acid 

Downstream, TDI, this week continued to rise, market prices continue to rise. Market news: in September, the listing price of Wanhua chemical increased by 2000 yuan / ton to 19000 yuan / ton, and the listing settlement price this week was 18500 yuan / ton. It is expected that the short-term TDI market will maintain an upward trend. In terms of PX market, Sinopec’s listed price this week is about 4600 yuan / ton, and the latest price of external disk is about 528 US dollars / ton FOB Korea and 546 US dollars / ton CFR China. It is expected that the short-term PX market will continue to decline slightly.


3、 Future forecast


According to toluene analyst of chemical branch of business agency: first look at the supply cost side, the total number of us oil drilling wells, EIA and API inventory data, and the implementation of OPEC + production reduction. Second, on the demand side, the impact of the continuous spread of the global second epidemic on the economic restart of crude oil demand, the progress of industrial chain recovery, the geopolitical situation of the Middle East and China and the United States, and the economic and trade situation of Europe and the United States. Third, look at the dollar index and stock market linkage. Next week, we will focus on the fluctuation of US dollar index and stock market, and the impact of Sino US economic and trade situation on the trend of crude oil. Overall, it is expected that the domestic market toluene price will usher in an adjustment trend next week.

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