Due to the escalation of the Russia-Ukraine conflict, international crude oil prices have been continuously rising. After the holiday, the markets for toluene and xylene have been supported. In particular, the prices of refineries in Shandong have generally increased, and low-priced resources have decreased. The fundamentals of the market in East China have changed limited. The demand side is mostly in a state of purchasing on demand and is relatively stiff.
Next week, as the post-holiday replenishment pace in the market slows down, the sharp rise of refineries in Shandong will decline somewhat, but the overall change will be limited. Pay close attention to the impact brought by external news. There is some mentality of long and short games, and it is necessary to operate with caution.
