According to the Commodity Market Analysis System of Shengyi Society, there was little fluctuation in the toluene market from September 15 to September 22, 2025. On September 15th, the benchmark price of toluene was 5360 yuan/ton, and on September 22nd, the benchmark price of toluene was 5380 yuan/ton, an increase of 0.37%. The domestic toluene market has limited fluctuations in this cycle. There has been no significant change in the supply and demand situation in the Shandong region, with downstream chemical and oil blending industries showing relatively stable demand, and procurement focusing on rigid needs. The trend of the East China market is relatively stable, and the enthusiasm for downstream market entry is weak. The South China market lacks clear information guidance and the market volatility is not significant. Overall, the toluene market has experienced limited volatility this week.
Cost wise: According to the Commodity Market Analysis System of Shengyi Society, as of September 19th, the settlement price of the November WTI crude oil futures contract in the United States was $62.40 per barrel. The settlement price of Brent crude oil futures for the December contract is $66.04 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 September 22nd, 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 22nd, the price of xylene at Sinopec Sales Company remained stable, with a current price of 7200 yuan/ton. This price is being implemented in East China, North China, Central China, and South China. Units such as Yangzi Petrochemical and Zhenhai Petrochemical are operating stably and sales are normal. As of September 19th, the closing prices of the xylene market in Asia were 791-793 US dollars/ton FOB Korea and 816-818 US dollars/ton CFR China.
Market forecast: The recent fluctuations in the crude oil market are relatively small, with limited impact on the spot market, and the macro outlook is relatively stable. From the perspective of supply and demand, the export volume of Shandong region has decreased recently, mainly for personal use, with limited impact on the market. There is a certain demand for pre holiday stocking on the downstream side of the demand side, with a focus on replenishing inventory as needed. Overall, the news on toluene has been relatively flat recently, and it is expected that the market trend will remain stable with limited volatility in the short term.