1、 Price trend

 

Benzalkonium chloride

According to the data of the bulk list of business cooperatives, toluene continued its downward trend this week. The price was 6640 yuan/ton on December 2 and 6210 yuan/ton on Friday (December 9), down 6.48% from last week; 7.25% higher than the same period last year.

 

2、 Analysis and review

 

Although the demand for gasoline has improved slightly due to the relaxation of the epidemic policy, the crude oil continued to fall during the week, the cost side depressed the market mentality, and toluene continued to decline this week.

 

In terms of external markets, the price of toluene in Asia fell broadly this week. On Thursday (December 8), the price of toluene imported from South Korea was 714 US dollars/ton, down 63 US dollars/ton year on year, or 8.11%.

 

In terms of crude oil, the crude oil market was shrouded in a negative atmosphere this week. The market was worried that the Federal Reserve might raise interest rates aggressively, and the U.S. oil product inventory increased significantly. Concerns about the future economic and demand prospects remained. As of December 9, Brent price fell by 9.47 dollars/barrel, or 11.07%, compared with last week; WTI fell by 8.96 US dollars/barrel, or 11.2%.

 

Sodium Molybdate

Downstream: In terms of TDI, the price of TDI in East China rebounded after falling this week. On December 2, the price was 17233 yuan/ton, and on December 9, the price was 17067 yuan/ton, down 0.97% from last week and up 16.7% from the same period last year.

 

In terms of PX, the domestic PX price continued to decline this week. On December 2, the price was 8300 yuan/ton, and on December 9, the price was 7450 yuan/ton, down 10.24% from last week and up 11.19% from the same period last year.

 

In terms of gasoline, the price of gasoline fell continuously this week. On December 2, the price was 7836 yuan/ton, and on December 9, the price was 7653 yuan/ton, down 2.34% from last week and 2.97% from the same period last year.

 

3、 Future market forecast

 

In terms of crude oil, the market is still worried about the global economic recession and weakening energy demand, and the short-term market will maintain a volatile pattern. We will continue to pay attention to the geopolitical situation, the latest OPEC+production policy, the stock dynamics of U.S. crude oil and refined oil, and the impact of global economic conditions on crude oil prices.

 

The fundamentals of the toluene market are poor, lacking substantial positive support, and the short-term cost is difficult to change. It is expected that toluene will continue to operate in a weak position. Pay attention to the impact of crude oil, external market trend, toluene unit dynamics and downstream demand on prices.

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