Views: 0 Author: Site Editor Publish Time: 2022-05-27 Origin: Site
Since March, 2022, European and American crude oil futures have been subject to frequent shocks under the influence of changing international situations, increasingly complex national policies and multiple mutated novel coronavirus, which has led to difficulties in stabilizing the highly related domestic toluene and xylene market prices. Since March, the domestic toluene and xylene market has been characterized by changeable external influence and unpredictable short-term trend.
As the fluctuation of crude oil price reduces the production profit margin of nitrotoluene and mixed xylene in the United States, there is a shortage of oil blending components before the peak driving season in summer (usually from June to early September). However, it is expected that the demand for gasoline will reach a record level in summer, and the demand for all oil blending materials far exceeds the supply, resulting in a wide arbitrage window for Asia and other regions. The demand for oil blending in Europe is also considerable. Under the multiple stimuli, the market prices of toluene and xylene in Europe and the United States are all the same. Japanese and Korean manufacturers and traders have exported toluene and xylene to the U.S. market, and switched to the Chinese market to buy related products, Affected by this, the price of toluene in the domestic market soared. In addition, the rapid rise of toluene price is also affected by the rapid rise of pure benzene. However, due to certain export restrictions and high port inventory, the growth of xylene market lags behind that of pure benzene and toluene, resulting in the gradual widening of the negative price difference between xylene and toluene.
At present, the toluene and xylene markets in East China are "outshining others", while the prices in Shandong, South China and other places are low, but the shipments are not good. It is expected that the toluene and xylene market in the port will fluctuate strongly in the short term. However, with the inflow of goods from various regions, the distribution of resources among regions will be gradually balanced, and the growth of benzene and xylene in the port will be limited or accompanied by wide-ranging fluctuations.