March 4th news: The mainstream spot quotation range for toluene in East China is 6,000-6,050 yuan/ton. In the previous trading day, domestic toluene and xylene prices surged significantly, driven by supply tightening news, which pushed the aromatics market to rise across the board. The market is expected to remain strong during the day, but the room for further upward movement is narrowing. Under the expectation of supply tightening, prices will continue to be supported at high levels.
Chempricehub analysis:
Toluene, long-short score: 1
Supply tightening news has driven a sharp increase in toluene spot prices, with mainstream quotations in East China reaching 6,000-6,050 yuan/ton. The market is expected to remain strong during the day, with narrowing upward space but solid support at high levels. This positive factor stems from the expectation of supply contraction, supporting sustained high spot prices, rated as a moderate positive.
Xylene, long-short score: 1
Xylene prices surged significantly driven by supply tightening, with the overall aromatics market rising. The market is expected to remain strong during the day, with increasing upward pressure but supply expectations supporting high-level operations. This positive factor dominates spot prices, rated as a moderate positive.