International crude oil prices exhibited a downward trend last week, hitting a new low in nearly two years. In the eastern China region, the willingness to sell toluene and xylene increased, lacking effective support, resulting in synchronous declines. The toluene and xylene markets in Shandong refineries were generally stagnant. Currently, the refineries face no inventory pressure and are mainly fulfilling previous orders. It is difficult for them to push up prices due to the influence of crude oil.
This week's forecast closely monitors developments in external market dynamics. As crude oil prices hover at low levels, downstream buyers have started to place orders at lower prices, leading to a slight improvement in transactions. This provides support to the market, making it more likely to rise than fall. Therefore, a cautious approach to operations is recommended.
