Toluene prices up this week (January 11 – January 17)

1、 Price trend

 

Sulfamic acid 

According to the data of business news agency’s block list, domestic toluene showed a rising trend this week. On January 10, the price of toluene was 3810 yuan / ton; on this Sunday (January 17), the price was 3910 yuan / ton, up 100 yuan / ton or 3.71% from last week.

 

2、 Analysis and comment

 

Within the week, Sinopec’s Toluene price increased by 150-200 yuan / ton. In terms of external market, as of January 15, the price of toluene imported from South Korea was 533 US dollars / ton, up 17 US dollars / ton or 3.29% from January 8; the price of toluene imported from East China was 532 US dollars / ton, up 7 US dollars / ton or 1.33% from January 8. During the week, crude oil and external market prices continued to rise last week, which was supported by favorable conditions, and toluene prices continued to rise.

 

In terms of crude oil, international oil prices fell after rising this week, which was lower than last week. Compared with January 8, Brent fell by $0.775/barrel, or 1.42%; WTI rose by $0.16/barrel, or 0.31%. Compared with December 31, 2019, Brent decreased by 24.38% and WTI decreased by 19.98%.

 

Downstream: in terms of TDI, the price of TDI in East China was stable this week, with domestic goods at 12666.67 yuan / ton, an increase of 8.26% over the same period last year. At present, the domestic market is dominated by consolidation and operation, with cautious attitude in the market, weak follow-up in the downstream and inactive trading.

 

In the PX market, the domestic PX price this week was more stable than last week. Sinopec’s listed price was about 4700 yuan / ton, down 31.88% year on year. As of January 15, the closing prices of p-xylene market in Asia were US $671-673 / T FOB Korea and US $689-691 / T CFR China.

 

3、 Future forecast

 

Analysts from the chemical branch of business society think: first, look at the supply cost side, the implementation of OPEC + production reduction, the total number of oil drilling platforms in the United States, and weekly EIA and API inventory data. Second, on the demand side, the impact of the global epidemic on crude oil demand, the recovery of the industrial chain, the economic and trade situation in Europe and the United States, and the progress of the fiscal stimulus plan. Third, look at the geopolitical situation in the Middle East, China and the United States, the progress of new technology, the dollar index and stock market linkage.

 

Affected by the public health events in Hebei and the rain and snow weather in northern China, transportation is limited, and some domestic downstream terminal plants are expected to shut down one after another, resulting in weaker demand for toluene. Toluene prices are expected to fluctuate next week. Continue to pay attention to the situation of downstream stock before the Spring Festival and the impact of gasoline blending price trend on toluene price.

http://www.sulfamic-acid.com

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