Summary of toluene prices on March 22, 2023:

Shijiazhuang Refining and Chemical Co., Ltd. quoted 7,050 RMB/ton, Qilu Petrochemical Co., Ltd. quoted 7,100 RMB/ton, Yangba Petrochemical Co., Ltd. quoted 7,000 RMB/ton, Changling Refining and Chemical Co., Ltd. quoted 7,100 RMB/ton, and Maoming Petrochemical Co., Ltd. quoted 6,950 RMB/ton.

Fluctuation trend:

Analysis review

In terms of crude oil, due to the impact of the economic downturn, the market as a whole was still in a state of panic. As the risk aversion sentiment had led to tightening liquidity and expected adjustments in the structure of crude oil supply and demand, the overall operating range of oil prices moved downward; The expectation of the Federal Reserve raising interest rates had weakened, and the impact of the crude oil market fundamentals was weak. International crude oil closed higher on Tuesday.

Downstream, PX prices in Asia soared for two consecutive days, with relatively strong market performance supporting the toluene market. However, the fundamentals of the toluene market had not performed well, and prices continued to be weak.

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