Toluene Enterprise

Sinopec rasied the toluene Aug list price by Yuan 100/mt in East China. Sinopec Shanghai Petrochemical, Sinopec Nanjing Refinery and BASF-YPC all implemented the price at Yuan 5,450/mt by cash for self-delivery. The operating rate of each enterprise was at 85% or so and products were mostly used for self-production, with few for the market.

Sinopec kept the toluene Aug list price flat in South China today. Sinopec Guangzhou Petrochemical kept the list price at Yuan 5,300/mt by cash for self-delivery, and Sinopec Maoming Petrochemical implemented the list price at Yuan 5,250/mt by cash for self-delivery. Overall operating rates were around 85-90%, with medium inventory level.

Toluene Market Influential Factors

Today domestic toluene market was weakening on the back of subdued downstream demand, despite the list price increase of state-owned petrochemicals propped up the market to some extent. South China saw poor trading with downstream buyers mostly keeping sidelined.

Toluene Market Outlook

China expected that East China toluene would be offered at Yuan 5,420-5,430/mt in the morning market tomorrow, and South China toluene would be at Yuan 5,350/mt, both by cash for self-delivery.