Product Region Incoterm Basis Price Last Updated Month
Toluene China FOB USD 1,055.02/MT April 2026
Toluene India CIF USD 1,104.90/MT April 2026
Toluene USA CIF USD 1,142.02/MT April 2026
Toluene Brazil CIF USD 1,176.12/MT April 2026
Toluene Canada CIF USD 1,142.02/MT April 2026
In China, prices were about 5.44 RMB/kg (Spot FD) in January and around 7.33 RMB/kg in March, with a 15.37% QoQ increase and a sharp 29.84% rise from February to March. The January uptrend was driven by crude oil recovery, tight supply in Shandong, and pre-Spring Festival inventory replenishment. However, February saw a decline due to weakening crude support, increased refinery supply, and delayed downstream resumption.
In March, prices surged as crude oil rallied amid Middle East disruptions, significantly elevating production costs. Additionally, reduced refinery operating rates and constrained import arrivals tightened supply. Sinopec, a major player in the region, raised its East China toluene list price by 6.7% to 8,000 yuan/mt ex-warehouse in March, amid tight regional supply, refinery diversions to gasoline blending, and upcoming plant maintenance.
Demand remained weak overall, as PX entered a maintenance cycle and downstream sectors such as coatings and solvents operated at low rates, limiting procurement despite rising prices. Meanwhile, In India, prices increased from 66.20 INR/kg (Spot) in January to 80.15 INR/kg in March, with a 16.88% rise from February to March.
The market was influenced by the Middle East conflict, which disrupted crude-linked raw material supply and increased freight and insurance costs. India’s petrochemical sector, which imports nearly 8–9 million tonnes of polymer raw materials annually, faced supply shortages due to reduced Gulf shipments, while logistics disruptions via Strait of Hormuz increased transit time and costs.