Summary of toluene prices as of May 9, 2023:

Shijiazhuang Petrochemical quoted 7,350 RMB/ton, Qilu Petrochemical quoted 7,250 RMB/ton, Yangba quoted 7,200 RMB/ton, Maoming Petrochemical quoted 6,950 RMB/ton, Guangzhou Petrochemical quoted 7,000 RMB/ton, and Changling Petrochemical quoted 7,300 RMB/ton.

Fluctuation trend:

Analysis review

In terms of crude oil, Gulf News reported on May 5th that Saudi Arabia had lowered crude oil futures prices in the Asian market; The Abu Dhabi National Oil Company of the United Arab Emirates announced that it would reduce crude oil shipments by 5% from May to seek a balance between supply and demand of crude oil; Investors' concerns about the US economic recession had eased. On Monday, international oil prices rose, but toluene fundamentals lacked support and performance continued to be weak.

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