International oil markets showed wide fluctuations last week. In eastern China, the toluene and xylene markets were generally in a stagnant state. Although some refineries in Shandong reduced their load, the overall demand did not improve after the holidays. Supply offers remained at a moderate level, and inventory build up was observed in some plants. The price center of high quality products shifted downward, which negatively affected market sentiment. Overall, refineries focused on reducing inventories, and the market showed a weak market trend.
It is expected that this week, as the markets gradually recover, the balance between supply and demand will improve, and refineries, currently constrained by costs, are likely to stop the price decline and stabilize. It is necessary to closely monitor external news and the impact of relevant policies and act with caution.
