The mainstream spot quotation range for toluene in East China is 5,510-5,560 yuan/ton, down 80 yuan/ton from the previous trading day. In the previous trading day, domestic toluene and xylene prices weakened slightly, and intraday prices are expected to continue fluctuating downward. The deepening decline in crude oil during the session is expected to lead to a bearish market sentiment. Currently, domestic inventories of toluene and xylene are low. However, ahead of the Spring Festival holiday, refineries are expected to have destocking needs, increasing supply pressure. In the short term, prices are expected to remain under pressure and fluctuate weakly.
PriceSeek Analysis:
Toluene, Bull-Bear Score: -1
The article points out that the spot quotation for toluene in East China has decreased by 80 yuan/ton to 5,510-5,560 yuan/ton, with prices expected to continue fluctuating downward. The deepening decline in crude oil has led to a bearish market sentiment. Although domestic inventories are low, the destocking needs of refineries ahead of the Spring Festival will increase supply pressure, causing short-term prices to remain under pressure and weaken. Therefore, this has a generally bearish impact on toluene spot prices, with a score of -1.
Xylene, Bull-Bear Score: -1
The article mentions that domestic xylene prices weakened slightly and are expected to continue declining intraday. The decline in crude oil has intensified the bearish market sentiment. Although inventories are low, refineries' destocking ahead of the Spring Festival will increase supply pressure, causing short-term prices to remain under pressure and fluctuate weakly. Therefore, this has a generally bearish impact on xylene spot prices, with a score of -1.
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