Domestic toluene market continued sliding this week. The dealing price declined from Yuan 8,600-8,650/mt to Yuan 8,300-8,350mt, down by Yuan 300/mt in Jiangsu of E-China. Sinopec East Sales Branch decreased toluene EXW price for two times which stressed market sentiment. Traders expressed that shipment was difficult and the market has no clue to stop decline. Recently, goods from PetroChina impacted toluene market; additionally, many downstream plants shut down and market demand got into dampened situation. In S-China, the price slid from Yuan 8,900-9,000/mt to Yuan 8,600-8,700/mt with weekly drop at Yuan 300/mt. Market resource was not abundant and demand from downstream was thin. On seeing present market, toluene was inclined to slide and most players were observing on the sideline. Toluene market still has opportunity to decline in the near future.

 

    Domestic xylene market also went down slightly this week. In Jiangsu, xylene price fell from Yuan 9,350/mt to Yuan 9,250/mt with weekly decline at 100/mt. In S-China market, xylene value dropped from Yuan 9,750-9,850 to Yuan 9,700/mt, down by Yuan 50/mt. Market resource was lacking and most traders stiffened their offers. Due to dampened demand and toluene market drag, xylene market will be in weak fluctuation during Olympic Games.