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The narrowing of the price difference between benzene and pure benzene suggests the possibility of future toluene adjustment
- Jul 23, 2018 -

In the fourth quarter, the overall trend of domestic toluene is relatively strong, east China's main market price level from the early October's 5400 yuan/ton near the end of December in the vicinity of 5800 yuan/ton, up to 7.41%, basically in the middle of the rising market. However, after entering the January, the domestic toluene market as a whole showed a more obvious high stagnation, different from the upward trend of toluene in Asia, the overall mood in east China's main market is slightly cautious, in addition to crude oil in the high level of stagnation and the domestic supply and demand for toluene itself imbalance and other reasons.

In the fourth quarter has been as a leading aromatic hydrocarbon pure benzene appeared very obvious weak adjustment activities, which also affected the stability of the domestic toluene market to a certain extent. Since the production of pure benzene abroad is mostly done through the toluene disproportionation device, in addition to entering the fourth quarter, the Asian pure benzene began to start a strong upward median market, while the market coincided with the 2018-year contract negotiations, in the first half of China's more concentrated styrene and phenol ketone plant production expected to be driven.

Asian pure benzene in the sharp rise, but also to pull the pure benzene higher, and through the relationship between toluene and pure benzene, the effect of the promotion of toluene upstream. But at the same time, global price spreads for pure benzene and toluene have reached the peak of the year, and the European market has reached its highest value since 2014--243 USD/ton, which has greatly increased the risk awareness of the market, as the month after the end of the Asian contract negotiations, The risk of the overall high drop of pure benzene is gradually increasing. According to market sources, Asia's traditional first-quarter overhaul may be postponed to the second half of the year, which in turn will affect the domestic market of high inventory level, so the demand for toluene adjustment is also gradually increased.