March 3 — The mainstream quotation range for toluene in the South China market today is 5,600–5,920 yuan/ton, up 200 yuan/ton from the average price of the previous trading day. Sinopec South China Company raised its toluene listed price by 200 yuan/ton: Guangzhou Petrochemical implemented 5,700 yuan/ton, Maoming Petrochemical implemented 5,700 yuan/ton, and Sinochem Refining and Chemical implemented 5,700 yuan/ton. Crude oil surged significantly, and toluene and xylene continued to show strength, with a sharp increase in the previous trading day. Prices are expected to remain firm with fluctuations during the day. The situation in Iran has a significant impact on commodity prices and market sentiment, while tight supply fundamentals support prices. However, after the sharp rise, traders and downstream purchases are relatively cautious. Short-term focus will be on changes in buying interest, with the market expected to maintain high and firm operations.

Chempricehub Analysis:
Toluene, Bull-Bear Score: 1.5
Spot prices of toluene increased by 200 yuan/ton compared to the previous trading day, with the mainstream quotation range at 5,600–5,920 yuan/ton. Sinopec South China Company’s listed price was also raised to 5,700 yuan/ton. The sharp rise in crude oil has driven toluene’s strength, while tight supply fundamentals support prices. However, traders and downstream purchases remain cautious. Short-term attention should be paid to changes in buying interest. The market is expected to maintain firm prices with fluctuations at high levels, which is generally favorable for the spot market.

Xylene, Bull-Bear Score: 1.5
Xylene continues to show strength, influenced by the sharp rise in crude oil, with prices surging significantly in the previous trading day. Prices are expected to remain firm with fluctuations during the day. The situation in Iran has intensified market sentiment, and tight supply supports prices. However, cautious purchasing may limit further gains. The market is expected to maintain high-level operations, which is favorable for the spot market.