Domestic toluene ran downwardly and the weekly drop in Jiangsu was capped at Yuan 100/mt. On Monday (July 7^th), toluene market was quiet and the quotation kept flat with last Friday; traders were in stable sentiment and were reluctant to sell. Influenced by the plunge of crude oil offer on Monday, toluene price slid Yuan 50/mt to Yuan 9,450/mt in Jiangsu of E-China on Tuesday. Deliveries became more difficult and deals were sparse in local market. Along with the dealing price Yuan 9,400/mt came out, traders mainly took bearish attitude.

 

    Comparatively, xylene offer dropped to Yuan 9,700/mt, slid Yuan 100/mt versus Monday. On Tuesday, crude oil offer continued to plunge, toluene negotiations were thinly talked in Jiangsu of E-China; the dealing price went on dropping with mainstream offers pegged at Yuan 9,400-9,450/mt. It was heard that partial low-price goods were dealt at Yuan 9,350/mt amid bearish sentiment. Xylene market offers largely steadied at Yuan 9,700-9,750/mt with the dealing price mainly at low level. The dealing price of toluene were carried out at around Yuan 9,400/mt on Thursday and Friday; xylene offer were mostly dealt at Yuan 9,700/mt with unsmooth deals in the market.     

 

    Crude oil fluctuated furiously, which impacted market sentiment to some extent, however, the rising trend brought less influence on toluene market, while the plunging situation could push market downwardly. As July was a thin season for most traders, the market demand and the inventory would shrink obviously. Problems such as arbitrage and closing out were seen in the market. The following toluene/xylene market will meet strong pressure on decline.