Asian Toluene: Lower on Bearish Sentiment- China's export market offers emerge- Southeast Asia blending demand weakensAsian toluene fell $10-15/mt in value on July 15,
at $959-980/mt FOB Korea, and $1,000-1,040/mt CFR China. This was due to a
bearish market and an uncertain outlook for upstream prices. For the first
half of August loading, offers were available at $970-965/mt FOB Korea.
However, there were limited buying options. FOB China offers were seen amid
healthy supply at $1.150-2.500/mt for July 20-30 loading range of 5,500-8,000
mt and $1.120-2.500/mt for August 15-25 loading range between 6,000-10,000mt. According
to sources in Southeast Asia, toluene is still in high demand due to its higher
price. Blenders prefer MTBE to toluene unless toluene prices fall below
$1,000-1,040/mt. The Chinese domestic spot price dropped Yuan 110/mt to
Yuan 7,840-8,000/mt, equating roughly to...