Toluene / xylene recent market is still weak

Date:2017-7-10 11:29:17
Chem366 - International crude oil: US crude oil inventories fell on Wednesday led to speculators pushed up oil prices, Thursday Asian trading hours speculative buying more active, leading to European and American benchmark crude oil futures continue to soar more than 1 dollar, WTI pushed to 77.31 per barrel US dollar, which is since the beginning of August last year, WTI disk for the first time exceeded 77 US dollars, and has been higher than the Brent futures prices. However, the US inventory fundamentals are not good, the US market transactions, due to stock crash led to increased market participants in the US demand growth slowed down concerns, Europe and the United States crude oil futures fell sharply instantly. Thursday's closing New York Mercantile Exchange West Texas Light Oil September futures $ 74.95 a barrel, down $ 0.93 from the previous session; London Intercontinental Exchange Brent crude September futures $ 75.18, down from the previous trading day $ 1.14, trading range of $ 74.82-77.16.

Asia market

Toluene: affected by the strong rise in crude oil yesterday, Asian toluene closed up 15 US dollars / ton to 824.5-825.5 US dollars / FOB Korea. But the market rose due to weak demand in China by some weakened, the day when the closing date in September 925 US dollars / ton FOB, but no seller to respond. The seller's price is generally above $ 835 / t. There are September goods turnover in 835 US dollars / FOB Korea. Some market participants questioned the sustainability of toluene gains, traders believe that the toluene rebound only due to rising crude oil, the market in the next few days may stabilize or fall back. Today's session of toluene: Ren August cargo offer at 845 US dollars / ton, served in September at 830 US dollars / ton, offer at 845 US dollars / ton FOB Korea.

Xylene: Yesterday Asian market heterogeneous xylene prices stable, to close at 922-923 US dollars / ton FOB Korea. August / September to the purchase price of goods in 925 US dollars / ton CFR Taiwan, but no seller put the appropriate delivery. SHELL then made up to $ 945 / tonne FOB South Korea offer for up to September cargo, INTERCHEM delivery in September shipment $ 890 / tonne FOB Korea.

Domestic market

East China market: morning opening, Jiangsu toluene offer 7400-7450 yuan / ton, suppliers offer remained stable. The market is currently a large single transaction small, small single transaction price of 7400 yuan / ton. Xylene offer 8500 yuan / ton, the market atmosphere is acceptable, to discuss more smoothly. Ningbo toluene offer 7500-7550 yuan / ton, to discuss the intention price of 7480-7500 yuan / ton. Xylene offer 8100-8150 yuan / ton, to discuss more than 8100 yuan intention / ton, the market popularity in general.

South China market: South China toluene market opening offer in the mainstream 7800-7900 yuan / ton from the mention, the inquiry atmosphere is not high, take the goods intention low. Xylene market mainstream offer in 8750 yuan / ton sent to, 8700 yuan / ton from mentioning, weak demand, the market has signs of the next line.

Forecast:

Toluene: high international oil prices, the European toluene trading light, businesses concerned about the progress in the US market trend, but the US toluene did not bring good news to the market decline. Asian toluene affected by the strong rise in crude oil yesterday closed up $ 15 / ton. As the domestic toluene trend in the doldrums, the market participants on the sustainability of the Asian toluene rally questioned, traders view that the toluene rebound only due to rising crude oil, he said the market in the next few days may stabilize or fall back. While the domestic market in the absence of guidance, the steady trend of toluene trend, turnover center of gravity shift.

Xylene: crude oil high and volatile, gasoline market outlook is not strong, the Asian market buyers and sellers price difference is too large, heterogeneous xylene prices yesterday, stable. The overall performance of the domestic aromatics market is poor, xylene market will also be affected by this weakened momentum.