Price dynamics:

On February 8, domestic enterprises offered toluene:

Shijiazhuang Refining&Chemical quoted 7,000 RMB/ton, Qilu Petrochemical quoted 7,100 RMB/ton, Yangba quoted 7,000 RMB/ton, Changling Refining&Chemical quoted 7,100 RMB/ton, and Maoming Petrochemical quoted 6,850 RMB/ton.

Fluctuation trend:

Analysis and comments:

In terms of crude oil, OPEC's oil supply declined, the Türkiye earthquake affected the energy supply in the Middle East, and domestic energy demand was strong, which was good for oil prices. However, the increase of Russian seaborne crude oil and the rebound of the US dollar index hadalso formed negative factors. At present, the output strategy of the oil-producing countries alliance focuses on the progress of China's demand increase and the uncertainty of Russia's supply prospects. The international oil price showed an overall upward trend. Crude oil rose strongly, boosting the toluene market, and Xinhai Petrochemical's quotation increased by 100 RMB/ton on the 8th.

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