March 5th — The mainstream spot quotation range for toluene in East China is RMB 6,200–6,250 per ton, up by RMB 100 per ton compared with the previous trading day. Toluene and xylene continued to rise in the previous trading day, with the overnight surge in aromatics boosting market sentiment in the spot market. After consecutive increases, further upward momentum faces greater resistance. However, as the situation in Iran remains unresolved, market expectations for further price increases persist. It is anticipated that the market will maintain a firm and fluctuating trend in the short term.
Chempricehub Analysis:
Toluene, Bull-Bear Score: 1
The spot quotation for toluene in East China increased by RMB 100 per ton to RMB 6,200–6,250 per ton, indicating a significant price rise. The overnight surge in aromatics has boosted market sentiment, while the unresolved situation in Iran provides upward support. Although resistance has increased after consecutive price hikes, market expectations remain strong. It is expected that the market will maintain a firm and fluctuating trend in the short term, which is favorable for spot prices.
Xylene, Bull-Bear Score: 1
Xylene continued its upward trend in the previous trading day, driven by the overnight surge in aromatics and the situation in Iran, leading to positive market sentiment. Although resistance has emerged after consecutive price increases, the overall environment supports expectations of further price rises. It is anticipated that the market will exhibit a fluctuating but strong trend in the short term, which is favorable for spot prices.