Domestic market of toluene continued to slip in the week, and the dealing price of toluene decreased from Yuan 9,400/mt to Yuan 9,250/mt, and weekly drop was Yuan 150/mt. At the beginning of the week, Sinopec Shanghai Branches declined their offers by Yuan 100/mt to Yuan 9,300/mt. The main reasons for the decrease were as follows: domestic inventory was too high, and the demand was abundant, and partial factories shut down, all of which depressed the market sentiment. Meanwhile, the plunge of crude oil offer also aggravated the muted market sentiment. Recently, partial traders said that sales were difficult, and selling volumes were decreased; furthermore, sources from NW-China were flooding into the local market so that the ongoing slid of toluene values would be likely. As the market price was lower than the ex-works price in Sinopec East Branches, ex-work offer from the producers would slip one more time recently.     

 

    Domestic market of xylene also went down influenced by downward toluene market, and the dealing price in Jiangsu of E-China decreased from Yuan 9,700/mt to Yuan 9,550-9,600/mt, and the weekly drop was Yuan 100-150/mt. Though ex-work price in Sinopec Refineries kept stable, and the inventory was low; however, due to the muted market demand, most goods traders declined their prices, and low price goods were frequently seen in the market. Presently, the quality index was complex in the market, the price of partial low quality goods declined quickly while the price of high quality goods also slid down due to the difficult shipment. According to our research, in view of the muted market sentiment and the unsmooth sales, it was possible for the drop of xylene offer in short term.