In the Shandong region, the mainstream morning quotation range for toluene is 5,330-5,380 yuan/ton, a decrease of 70 yuan/ton compared to the previous trading day. On the previous trading day, domestic toluene and xylene prices both experienced varying degrees of decline. The aromatics market continued its weak trend during the night session, compounded by the ongoing reduction in downstream spot restocking demand ahead of the Spring Festival. Market buying interest is expected to remain weak during the day. Although refinery inventories are mostly at low levels, there is no expectation of a further deepening of short-term supply-demand structural contradictions. Considering the overall weak market sentiment, it is anticipated that the bid prices for toluene and xylene will continue to experience slight downward pressure during the day.
PriceSeek Analysis:
Toluene, Bull-Bear Score: -1
The article notes that spot toluene quotations in the Shandong region have decreased by 70 yuan/ton to 5,330-5,380 yuan/ton, with overall market sentiment remaining weak. Prices declined on the previous trading day, and the aromatics market continued its weak trend during the night session. Coupled with reduced downstream restocking demand ahead of the Spring Festival, buying interest is expected to remain sluggish during the day. Although refinery inventories are at low levels and the supply-demand structural contradiction has not deepened further, comprehensive factors suggest that prices will continue to experience slight downward pressure, exerting a generally bearish impact on spot prices.
Xylene, Bull-Bear Score: -1
The article mentions that spot xylene prices have also declined, with bid prices expected to continue experiencing slight downward pressure during the day. The market is influenced by the overall weak trend in aromatics, while downstream demand has weakened due to reduced restocking demand ahead of the Spring Festival, leading to subdued buying interest. Although low refinery inventories have alleviated some downward pressure, the overall supply-demand contradiction has not improved, resulting in price pressure and exerting a generally bearish impact on spot prices.
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