February 2 News: The mainstream spot quotation range for xylene in East China is 5,720–5,730 yuan/ton. Domestic toluene and xylene prices have weakened slightly and may continue to fluctuate downward intraday. Coupled with a deepening decline in crude oil prices, market sentiment remains bearish. Although current inventory levels are low, increased supply from refinery destocking before the Spring Festival will add pressure on prices in the short term, with the overall trend expected to be weak and volatile.
Chempricehub Analysis: Mixed Xylene, Bull-Bear Score: -1
The article notes that spot prices for mixed xylene have weakened slightly, with a quotation range of 5,720–5,730 yuan/ton, and may continue to fluctuate downward intraday. Key bearish factors include the deepening decline in crude oil prices, which has led to bearish market sentiment, and increased supply from refinery destocking before the Spring Festival. Although low current inventory provides some support, overall supply pressure is suppressing prices. Short-term prices are under clear pressure, and a weak, volatile trend is expected, resulting in a general bearish score of -1.
Toluene, Bull-Bear Score: -1
The article mentions that toluene prices have weakened slightly, similar to mixed xylene, due to the decline in crude oil prices and bearish market sentiment. The deepening drop in crude oil has reinforced bearish expectations, and increased supply from refinery destocking before the Spring Festival will further pressure prices. Although low inventory provides a buffer, it is insufficient to reverse the downward trend. Short-term prices are under pressure and expected to fluctuate downward, resulting in a general bearish score of -1.