According to the Commodity Market Analysis System of Shengyi Society, the toluene market fluctuated downward from August 29 to September 5, 2025. On August 29th, the benchmark price of toluene was 5440 yuan/ton, and on September 5th, the benchmark price of toluene was 5360 yuan/ton, a decrease of 1.47%. The toluene market fluctuated weakly in this cycle, and the weakening of crude oil in the second half of the week dragged down market sentiment, causing market prices to continue to decline. The Shandong region has been dragged down by the crude oil market this week, resulting in an overall decline in prices. Negotiations in the East China region are quiet, and offers are generally low. Affected by loose supply, the enthusiasm for downstream market entry in southern China is weak, and the prices of main refineries have been lowered, resulting in an overall weak market atmosphere.
Cost wise: The crude oil market prices in this cycle have mainly fluctuated at low levels. As of the 4th, the settlement price of the October WTI crude oil futures contract in the United States was $63.48 per barrel, and the settlement price of the November Brent crude oil futures contract was $66.99 per barrel. The crude oil market is influenced by both long and short factors. On the one hand, geopolitical factors remain one of the important factors affecting the crude oil market, and the Russia Ukraine issue has led to a strong operation of the crude oil market. On the other hand, Saudi crude oil may increase production, leading to an increase in US crude oil inventories. In addition, with the end of the peak oil season in the US, the global economic outlook and oil demand are not optimistic, putting pressure on crude oil market prices.

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 September 5th, East China Company quoted 5350 yuan/ton, North China Company quoted 5300 yuan/ton, South China Company quoted 5300-5400 yuan/ton, and Central China Company quoted 5450 yuan/ton.
Demand side:
On September 5th, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 7200 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. As of September 4th, the closing prices of the para xylene market in Asia were $803-805/ton FOB Korea and $828-830/ton CFR China.
Market forecast: The recent trend of the crude oil market is weak, with limited boost to the spot market and a weak macro outlook. From the perspective of supply and demand, the recent performance has also been weak, with downstream demand being more rigid and lacking demand support. It is expected that the toluene market will continue to operate weakly in the short term.