According to the Commodity Market Analysis System of Shengyi Society, the toluene market fluctuated and fell from July 14 to July 21, 2025. On July 14th, the benchmark price of toluene was 5560 yuan/ton, and on July 21st, the benchmark price of toluene was 5520 yuan/ton, a decrease of 0.72%. The toluene market has fluctuated downward this cycle, and the focus of negotiations has fallen. The weak trend of crude oil this week has a certain impact on market sentiment. The overall sales performance in Shandong region is poor, with low purchasing enthusiasm in the oil blending and chemical industries, and weak market operation due to demand drag. The market in East China was generally bearish during the week, putting pressure on the market. The demand in southern China is weak, refinery shipments are poor, and the market is operating weakly.

On the cost side: During this cycle, crude oil prices have fluctuated at a low level. On the one hand, OPEC+is likely to maintain a significant increase in production in August and September, and the tension in the Middle East has eased compared to before. As a result of this news, the international oil market trend has declined; On the other hand, the market’s concerns about the US tariff negotiations have eased to some extent, and major institutions have a pessimistic view of the demand outlook. The demand side may be difficult to change, and the crude oil market remains weak. As of July 18th, international crude oil futures closed down. The settlement price of the September WTI crude oil futures contract in the United States is $66.05 per barrel. The settlement price of Brent crude oil futures for September is $69.28 per barrel.
Supply side:
Sinopec’s toluene enterprise is operating normally, with stable production of equipment and many products for personal use, resulting in stable production and sales. As of July 21st, East China Company quoted 5500 yuan/ton, North China Company quoted 5500 yuan/ton, South China Company quoted 5550-5600 yuan/ton, and Central China Company quoted 5550 yuan/ton.
Demand side:
On July 21st, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 7250 yuan/ton. This price is implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other units are operating stably and sales are normal. The price remains unchanged compared to July 14th. As of July 18th, the closing prices of the xylene market in Asia were $814-816/ton FOB Korea and $839-841/ton CFR China, an increase of $3/ton from July 11th.
Market forecast: The recent weak trend of crude oil has dragged down market sentiment. Recent market news on the supply side indicates that some devices will be put into operation, and the market expects supply to be relatively loose. From the demand side, the overall demand for downstream oil blending and chemical industries is weak, and the demand side is bearish. Overall, the supply and demand are bearish, and it is expected that the toluene market will operate weakly.