1、 Price trend
| Azodicarbonamide (AC foaming Agent) |
According to the data of the business club’s bulk list, the domestic market price of toluene rose this week, with the price of toluene at 3580 yuan / ton on November 29 and 3722 yuan / ton on Sunday (December 6), up 142 yuan / ton or 3.97% compared with last week.
2、 Analysis and comment
This week, the domestic toluene market is mainly supported by crude oil, showing a broad upward trend. The listed price of toluene in Sinopec’s North China, South China and East China increased by 150 yuan / ton, and the listing price of enterprises in Central China increased by 300 yuan / ton. Port inventory slightly decreased, but still at a high level, the pressure to the warehouse does not reduce. Market oversupply, downstream blending oil and solvent demand is general.
In terms of crude oil, this week’s crude oil showed a trend of first falling and then rising, which was higher than that of last week. The new crown vaccine has made new progress, and OPEC + has reached a decision to gradually increase crude oil production, bringing benefits. Compared with November 27, Brent rose $1.85/barrel, or 3.93%; WTI rose by $0.71/barrel, or 1.55%. Compared with December 31, 2019, Brent decreased by 26.8%, and WTI decreased by 23.61%.
Downstream: in terms of TDI, the price continued to decline this week, with cautious market mentality and weak trading atmosphere. The implementation of domestic goods was 12700 yuan / ton, down 100 yuan / ton compared with last week. It is expected that the short-term TDI market will continue to be weak.
In terms of PX market, Sinopec’s listed price this week was about 4300 yuan / ton, which was stable compared with last week.
3、 Future forecast
According to toluene analyst of chemical branch of business agency: first look at the supply cost side, OPEC + production reduction implementation, total number of us oil drilling and weekly EIA, API inventory data. Second, on the demand side, the impact of the worsening global epidemic situation on crude oil demand, the progress of industrial chain recovery, the economic and trade situation of Europe and the United States and the progress of economic recovery and rescue plan. Third, look at the geopolitical situation in the Middle East and China and the United States, the progress in the research and development of new coronal vaccine, the linkage between the US dollar index and the stock market. The future market will focus on the new progress of the new crown vaccine and the related progress of the US economic stimulus plan. Overall, toluene is expected to continue to rise in the domestic market next week.
| povidone Iodine |