East China toluene inventories up 26% on year as prices remain low

Toluene inventories in East China were up 26.3% year on year at 120,000 mt Tuesday, S&P Global Platts data showed.

"Amid the overall weak demand after the Lunar New Year, import prices have fallen in the past few months as sellers with unsold cargoes have dropped offers in a bid to entice buying interest," a trader said.

Chinese buyers are also known to stock up on inventory whenever prices are attractive and this could have resulted in a rise in inventory levels from a year ago, a buyer said.

The Platts CFR China L/C 90 days marker was assessed at $590/mt Monday, down $197/mt or 25% year on year.