February 5th News: The mainstream spot quotation range for xylene in the East China region is 5,700–5,750 yuan/ton, up by 10 yuan/ton compared to the previous trading day. Overnight crude oil continued to close higher, while aromatics showed relatively stable performance during the night session. In the previous trading day, domestic toluene and xylene prices had already shown a narrow rebound trend. Currently, domestic toluene and xylene inventories are at low levels, with no significant pressure on the supply side. The focus for the day will be on the overall sentiment in the aromatics market and the pace of downstream restocking before the Spring Festival. If downstream restocking willingness strengthens, prices are expected to continue rising modestly.
Chempricehub Analysis:
Xylene, Bull-Bear Score: 1
The article points out that the spot quotation for xylene in the East China region increased by 10 yuan/ton to 5,700–5,750 yuan/ton. With low inventory levels and no significant pressure on the supply side, overnight crude oil price increases provided support. Downstream restocking willingness may strengthen, and prices are expected to continue rising modestly. Therefore, the impact on spot prices is moderately positive.
Toluene, Bull-Bear Score: 1
The article mentions that toluene prices showed a narrow rebound trend, with low inventory levels and no supply pressure. Driven by the overall sentiment in the aromatics market and rising crude oil prices, downstream restocking before the Spring Festival may boost demand, and prices are expected to rise. Therefore, the impact on spot prices is moderately positive.