Publish Time: 2023-01-04 Origin: Site
Toluene/Xylene: Overview of Asian Toluene Market Discussions
Toluene prices in Asia rose on January 3, driven by gains in crude oil futures and stronger upstream prices. There are no transparent bids or offers in the toluene market during the closing evaluation process. The market has heard some regular tenders from China and Southeast Asia, with at least one contract priced above the combined assessment of FOB Korea and FOB China, industry sources said. However, details were too murky to be confirmed as market participants were still returning from the lull following festive events. With the Chinese Lunar New Year holiday approaching, domestic inventories are seen as an important factor and prices in the domestic market have risen sharply, industry players said. Bearish Chinese manufacturing data also raised hopes of monetary policy easing, which could boost short-term oil demand, they added. Meanwhile, domestic toluene discussions in India have stabilized at around Rs 82-83 per kg, with healthy port stock levels. Market sources shared on 3 January indicated methanol inventories at the port of Candela were around 22,000-25,000 tonnes. Offers for January cargoes have been reduced as some traders have already started negotiations for February. Some buyers bid up prices for Chinese-origin cargoes to as high as $940 a tonne for January due to a lack of offers, an importer said. Sales indicators for February shipments were $135 per metric ton higher than FOB Korea. Some importers believe that the premium for buying goods is too high and "too risky".
0086-532-85708217
0086-532-85708218