Summary of toluene prices on July 15:
Shijiazhuang Refinery's toluene price was 8,100 RMB/ton, and Qilu Petrochemical's toluene price was 8,150 RMB/ton, Yamba’s toluene price was 7,800 RMB/ton, Guangzhou Petrochemical’s toluene price was 8,000 RMB/ton, Maoming Petrochemical’s toluene price was 7,950 RMB/ton, and Changling Refinery’s toluene price was 7,900 RMB/ton.
Volatility trend:
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In terms of crude oil, the market expressed doubts about the ability of the Organization of the Petroleum Exporting Countries (OPEC) to increase production, mainly due to the limited space for remaining production capacity; in addition, Saudi Arabia said it would not immediately increase oil production, and tight supply is expected to boost oil prices.
On the 18th, Sinopec's toluene price in South China was lowered by 300 RMB/ton.
Crude oil rebounded last Friday, and toluene edged lower in the outer disk. Crude oil rose on the 18th, driving the focus of the toluene spot market to rise, but actual discussions were limited.
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