Toluene Prices See Initial Surge and Subsequent Decline in September 2026

Toluene prices in China saw an initial surge followed by a decline in September 2026, ultimately closing higher overall.

The market fluctuations were driven alternately by crude oil trends and supply-demand expectations. In the first ten days of the month, strong international crude oil prices pushed up aromatics costs, while tightening local supply provided further support for rising prices.

However, during the middle and latter parts of the month, expectations of tight crude oil supply eased and downstream purchasing remained sluggish, causing prices to retreat from their highs; nevertheless, the earlier gains were largely retained, resulting in an overall upward shift in the price range.

The average market price for toluene was 7,440 RMB/ton on September 1 and 8,166.67 RMB/ton on September 20, representing a cumulative monthly increase of 9.77%.