According to the Commodity Market Analysis System of Shengyi Society, the market for toluene is expected to decline from October 20 to October 27, 2025. On October 20th, the benchmark price of toluene was 5200 yuan/ton, and on October 27th, the benchmark price of toluene was 5150 yuan/ton, a decrease of 0.96%. The domestic toluene market has fluctuated downward in this cycle. The ex factory prices of the main refineries in Shandong region have slightly decreased, while the overall demand for downstream chemical and oil blending industries remains stable, with procurement leaning towards rigid needs. The prices in the East and South China markets have slightly decreased, and the enthusiasm for downstream market entry is weak. Overall, the toluene market has been stable, moderate, and weak this week.

Cost wise: According to the Commodity Market Analysis System of Shengyi Society, as of the 24th, the settlement price of the December WTI crude oil futures contract in the United States was $61.50 per barrel, and the settlement price of the December Brent crude oil futures contract was $65.94 per barrel. The crude oil price market in this cycle first fell and then rose. At the beginning of the cycle, OPEC+has launched a new round of production increase of 1.65 million barrels per day. The market is still concerned about the risk of long-term oversupply. The situation between Palestine and Israel has eased, and coupled with weakened demand from the United States, the issue of US tariffs has dragged down the global economy and demand expectations, leading to a rapid decline in the international oil price market; However, in the later stage, with the continuation of sanctions policies against some oil producing countries by Europe and the United States, coupled with reduced concerns about negative pressure caused by US tariffs and trade disputes, the crude oil market trend has risen.
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 October 27th, East China Company quoted 5150 yuan/ton, North China Company quoted 4950 yuan/ton, South China Company quoted 5400-5500 yuan/ton, and Central China Company quoted 5150 yuan/ton.
Demand side:
On October 27th, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 6650 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 October 24th, the closing prices of the xylene market in Asia were 789-791 US dollars/ton FOB Korea and 814-816 US dollars/ton CFR China.
Market forecast: The overall trend of the crude oil market is volatile in the near future, which provides insufficient guidance for the market. From the perspective of supply and demand, the overall market changes have been limited recently, with stable supply. The main refineries have slightly lowered their ex factory prices over the weekend, and the market atmosphere is relatively quiet. The recent performance of the demand side still leans towards rigid demand, with a focus on replenishing inventory as needed. Overall, the news on toluene has been bearish recently, and it is expected that the market trend will remain stable and weak in the short term.