News from Business Agency on April 30
According to the commodity market analysis system of the business community, the toluene market has declined slightly recently (4.22-4.29). The benchmark price of toluene was 7630 yuan/ton on April 29, down 1.8% from 7770 yuan/ton on April 22.
international crude oil Narrow amplitude oscillation toluene cost is weak support
Recently (4.22-4.29), the international crude oil price fluctuated in a narrow range, and the cost of toluene was slightly supported by the unexpected increase of US crude oil inventory, the weakening of demand expectations, and the suppression of conflict risk premium. As of April 29, the settlement of WTI06 contract was 82.63 dollars/barrel; Brent 07 contract settled at USD 87.20/barrel. As of April 29, May, the price of toluene in CFR China was USD 935-937/ton.
PX 0> Paraxylene The support for maintaining low level toluene just needs to be weak when starting
Recently, Urumqi Petrochemical, Zhenhai Refining and Chemical and other units started to feed and restart, and the domestic p-xylene operation increased slightly from 6.9% to around 7.5%, but the overall operation is still at a low level, and the demand for toluene is weak. The settlement of the high price of PX in Asia's external market has certain support for the domestic PX market. As of April 29, the closing price in Asia was 1011-1013 yuan/ton FOB South Korea and 1036-1038 dollars/ton CFR China.
Slow recovery of domestic mixed mixing market supported by weak demand for toluene
The recovery of the domestic mixed mixing market is slow, and the demand for toluene mixed mixing is weak. As of April 18, the national refinery construction began to decline by about 6.9%.
Port inventory still has some pressure on toluene market
Domestic toluene port inventory was slightly lower than the previous period, but still at a high level. As of April 25, the inventory of toluene in East China was 71000 tons, and that in South China was 5000 tons.
There are still devices planned for maintenance in the later period, and the toluene supply side is expected to decline
The reforming unit of Jin'ao Technology was shut down for maintenance in April, and the toluene was sold out without quantity; The aromatics of Jiangsu Xinhai Petrochemical stopped for maintenance on April 7. In the later period, Zhenhai Refining and Chemical, Zhenghe Petrochemical, Dushanzi Petrochemical, Dalian Xitai and other toluene mixed xylene units still have unit maintenance plans in May and June. Overall, the toluene supply side is expected to decline in the later period, which has certain support for the toluene market.
Future market forecast : From a fundamental point of view, the current international crude oil shock finishing, toluene costs narrow fluctuations; Secondly, the demand for downstream oil regulation and disproportionation reaction is lower than expected; The storage and maintenance plan of the toluene unit in the later stage can relieve the pressure of the toluene supply surface to a certain extent. It is generally expected that the toluene market will stabilize and rebound after a slight decline in the later period.
(Source: Business Association)
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