March 9th News — The mainstream quotation range for toluene in the Shandong region is 10,000–11,000 yuan/ton, representing an increase of 4,000 yuan/ton compared to the previous trading day. The ex-factory prices of mainstream local refineries in the province have been significantly raised to 10,000–11,000 yuan/ton. This price surge is primarily driven by multiple interconnected factors, with cost-side dynamics serving as the core driver. The escalation of geopolitical conflicts in the Middle East has raised concerns over crude oil supply, driving up upstream raw material prices and providing solid support for the rise in toluene. Simultaneously, maintenance or reduced operations at certain domestic and international facilities have led to tightening market supply, prompting holders to withhold sales and support prices. Coupled with the synchronized increase in the aromatics industry chain, rising market optimism, and rigid demand support from downstream post-holiday resumption of operations, the upward momentum has been further amplified. In the short term, the toluene market is expected to maintain strong volatility. Chempricehub Analysis of Toluene, Bull-Bear Score: 2 The spot price of toluene has risen sharply by 4,000 yuan/ton to 10,000–11,000 yuan/ton, primarily driven by multiple favorable factors: the escalation of geopolitical conflicts in the Middle East has pushed up crude oil costs, providing solid support for toluene; maintenance at domestic and international facilities has led to tightening supply, prompting holders to withhold sales and support prices; the synchronized increase in the aromatics industry chain, rising market optimism, and rigid demand support from downstream post-holiday resumption of operations have further amplified the upward trend. The short-term market is expected to maintain strong volatility, forming a significant positive factor for spot prices.