Hamburg (Germany)- The European market has witnessed a continued decline in Toluene prices due to a weakening demand outlook for the commodity. The market value of Toluene is closely tied to the overall demand from downstream and derivative manufacturing units. Recently, Brent crude oil prices, previously supported by OPEC+&#xx;s production cuts, fell sharply after the cartel announced a gradual easing of some restrictions. This move sparked concerns among traders about a potential supply increase, leading to a significant drop in crude oil prices. These factors combined to lower Toluene prices in the European market, which settled at USD xxxx per MT, FOB Hamburg, in the last week of May xxxx.
A key factor affecting Toluene&#xx;s price dynamics is the persistent low demand from the coatings, construction, and solvents sectors over the past few weeks. Germany&#xx;s construction industry is projected to shrink by xx this year,...
