For the Quarter Ending June 2026
Toluene Prices in North America
- In USA, the Toluene Price Index rose by 52.17% quarter-over-quarter, driven by strong downstream demand tightening availability.
- The average Toluene price for the quarter was approximately USD 1240.67/MT. Tight export enquiries supported domestic premiums.
- Toluene Spot Price strengthened amid weekly surges driven by refinery maintenance and increased gasoline blending demand.
- Toluene Price Forecast indicates near term firmness as export enquiries and feedstock volatility sustain premium offers.
- Toluene Production Cost Trend showed modest pressure from crude fluctuations but did not fully explain spot strength.
- Toluene Demand Outlook remains firm from coatings, polyurethane and nitration chains supporting sustained offtake into summer.
- Toluene Price Index movements reflected constrained import availability and persistent trader length reducing coastal spot liquidity.
- Market participants reported balanced inventories yet competitive Asian cargoes intermittently capped upward momentum amid seasonal restocking.
Why did the price of Toluene change in June 2026 in North America?
- Comfortable domestic supply combined with steady imports eased near term spot tightness, thereby pressuring values.
- Mild feedstock weakness from crude and naphtha reduced production cost support for extraction margins materially.
- Export enquiries slowed and downstream buying remained requirement driven, softening upward pressure on prompt offers.
Toluene Prices in APAC
- In Japan, the Toluene Price Index rose by 31.64% quarter-over-quarter, reflecting tighter domestic availability and downstream demand.
- The average Toluene price for the quarter was approximately USD 1313.33/MT, reflecting firm spot market conditions.
- Toluene Spot Price tightened as coastal tank inventories fell and import arbitrage remained unattractive, supporting seller offers.
- Toluene Price Forecast indicates near-term firmness driven by constrained supply from reformer maintenance and robust solvents demand.
- Toluene Production Cost Trend was upward due to higher naphtha and crude-linked feedstock freight and insurance premiums.
- Toluene Demand Outlook remains positive as automotive coatings, polyurethane and solvent sectors increased procurement for restocking.
- Toluene Price Index was supported by limited import arrivals and distributors prioritising contract commitments over spot exports.
- Major producers’ maintenance schedules tightened availability, while coastal logistics remained uninterrupted, mitigating immediate distribution bottlenecks.
Why did the price of Toluene change in June 2026 in APAC?
- Domestic reformer maintenance reduced co-product volumes, tightening supply and raising spot scarcity for prompt buyers in June.
- Import arbitrage reversed; fewer Korean and Singapore cargoes arrived, eliminating relief and supporting higher coastal price levels.
- Feedstock cost pressures and elevated freight insurance concerns increased production costs, narrowing margins and underpinning seller offers.
Indonesia
- In Indonesia, the Toluene Price Index rose by 19.86% quarter-over-quarter, driven by earlier import tightness.
- Observed Toluene Spot Price volatility reflected intermittent buying, with sellers sustaining disciplined offers amid supply.
South Korea
- In South Korea, the Toluene Price Index rose by 23.35% quarter-over-quarter, driven by refinery cost-push.
- Toluene Spot Price eased amid abundant domestic cargoes while Price Index reflected steady bearish momentum.
Toluene Prices in Europe
- In Spain, the Toluene Price Index rose by 35.03% quarter-over-quarter, driven by firmer import parity.
- The average Toluene price for the quarter was approximately USD 1193.67/MT, based on FD Madrid.
- Toluene Spot Price oscillated amidst balanced inventories and mixed cargo inflows from Northwest Europe suppliers.
- Toluene Production Cost Trend eased as crude and naphtha softened reducing upstream cost support sellers.
- Toluene Demand Outlook stays cautious with hand-to-mouth buying from solvents, coatings and isocyanate chains domestically.
- Toluene Price Forecast signals mixed near-term direction with seasonal strength offset by downstream weakness factors.
- Toluene Price Index volatility reflected alternating seller firmness and prompt cargo inflows easing import premiums.
- Inventories remained comfortable across Mediterranean terminals, allowing distributors to trim offers and spark spot discussions.
Why did the price of Toluene change in June 2026 in Europe?
- Ample regional supply and steady refinery runs relaxed spot tightness, enabling sellers to lower offers.
- Weaker feedstock costs after crude easing reduced production cost support, exerting downward pressure on prices.
- Subdued downstream demand and softer export enquiries limited buying urgency, sustaining a defensive pricing environment.
Germany
- In Germany, the Toluene Price Index rose by 36.92% quarter-over-quarter, reflecting stronger export pull and tighter regional availability.
- Toluene Spot Price volatility reflected alternating refinery flows and rising export inquiries, compressing tank inventories.
Netherlands
- In the Netherlands, the Toluene Price Index rose by 36.69% quarter-over-quarter, driven by export flows.
- Toluene Spot Price tightened as Rotterdam export demand and refinery routing limited merchant availability overall.
Toluene Prices in MEA
- In Saudi Arabia, the Toluene Price Index rose by 42.66% quarter-over-quarter, driven by export disruptions.
- The average Toluene price for the quarter was approximately USD 1380.00/MT, reflecting mixed supply signals.
- Toluene Spot Price volatility reflected export bottlenecks and softened crude, enabling intermittent recent seller-driven rallies.
- Toluene Price Forecast indicates range-bound near term as Toluene Production Cost Trend follows crude movements.
- Toluene Demand Outlook appears muted seasonally, while the Toluene Price Index tracks inventory and freight.
- Inventory rebuilds and resumed Ras Tanura flows eased shortages, yet sporadic export demand kept volatility.
- Falling crude and naphtha reduced production costs, compressing margins and pressuring regional seller offers periodically.
- Elevated insurance and rerouting costs increased CFR landed prices, constraining arbitrage and shaping near-term forecasts.
Why did the price of Toluene change in June 2026 in MEA?
- Resumed Ras Tanura loadings increased reformate supply, boosting domestic availability and relieving spot scarcity pressures.
- An 8.59% crude decline lowered extraction costs, compressing producer costs and prompting CFR offer reductions.
- Hormuz reopening eased freight and insurance, lowering delivered costs while downstream demand therefore remained subdued.
For the Quarter Ending March 2026
Toluene Prices in North America
- In the USA, the Toluene Price Index fell by 6.18% quarter-over-quarter, reflecting tighter supply and costs.
- The average Toluene price for the quarter was approximately USD 815.33/MT, based on Gulf Coast FOB.
- Toluene Spot Price tightened in March as export demand and reduced merchant stocks constrained domestic volumes.
- Toluene Price Forecast points to firmness as feedstock disruptions and precautionary refinery stockpiles influence market balances.
- Toluene Production Cost Trend rose as higher crude and elevated natural-gas costs reduced reformate extraction economics.
- Toluene Demand Outlook improved seasonally with coatings and TDI restocking ahead of spring automotive ramps.
- Toluene Price Index strength was amplified by HDA diversions and export nominations, tightening merchant parcel availability.
- Reformer constraints and delayed catalyst imports reduced extractable volumes, supporting spot tightness and Price Index gains.
Why did the price of Toluene change in March 2026 in North America?
- Strait of Hormuz disruptions tightened crude and naphtha supplies, raising feedstock costs, curtailing reformer runs.
- Precautionary refinery inventory build and export demand tightened merchant availability, elevating Gulf Coast spot premiums.
- Sanctions and delayed catalyst imports increased production costs, logistical insurance premiums raised trade route expenses.
Toluene Prices in APAC
- In Japan, the Toluene Price Index rose by 6.13% quarter-over-quarter, reflecting tighter feedstock and maintenance.
- The average Toluene price for the quarter was approximately USD 997.67/MT, reflecting balanced fundamentals domestically.
- Toluene Spot Price surged during March, lifting the Toluene Price Index amid constrained naphtha supply.
- The Toluene Production Cost Trend rose as rerouting and higher naphtha lifted processing, freight expenses.
- Toluene Demand Outlook remains constructive for coatings and TDI, supporting the Toluene Price Forecast currently.
- Inventory draws and limited imports tightened supplies, pushing the Toluene Price Index toward firmer territory.
- Prolonged reformer turnarounds at key Japanese plants curtailed co-product output, reducing spot availability nationally materially.
- Closed arbitrage and higher insurance premia limited inflows, amplifying domestic tightness and upward price pressure.
Why did the price of Toluene change in March 2026 in APAC?
- Strait of Hormuz closures reduced seaborne naphtha, elevating freight and import parity costs for Japan.
- Concurrent refinery maintenances lowered domestic reformer runs, reducing toluene yields despite unchanged downstream consumption levels.
- Rising insurance premia and rerouting increased delivered costs, prompting cautious buying and faster inventory drawdowns.
Toluene Prices in Europe
- In Spain, the Toluene Price Index rose by 5.62% quarter-over-quarter, driven by tightening feedstock availability.
- The average Toluene price for the quarter was approximately USD 884.00/MT based on spot and contract assessments.
- Toluene Spot Price gains mirrored the Price Index, reflecting constrained supplies and elevated freight premiums.
- Toluene Price Forecast indicates short-term firmness as geopolitical risk elevates replacement cost and compresses arbitrage.
- Toluene Production Cost Trend rose due to higher crude-derived naphtha costs and war-risk insurance premiums.
- Toluene Demand Outlook remained steady, supported by coatings and polyurethane sectors, but lacked aggressive offtake.
- Tight Spanish inventories limited exports and pushed the Toluene Price Index higher in prompt markets.
- Major refinery streams prioritized gasoline blending, leaving merchant Toluene availability tight for spot buyers, traders.
Why did the price of Toluene change in March 2026 in Europe?
- March tightening resulted from reduced reformate yields and diverted cargoes, compressing merchant supply into Spain.
- Higher crude and naphtha benchmarks combined with war-risk insurance and longer voyages raised replacement costs.
- Prompt buying and low inventories amplified upward momentum, with limited exportable volumes preventing immediate relief.
Toluene Prices in MEA
- In Saudi Arabia, the Toluene Price Index rose by 8.36% quarter-over-quarter, reflecting tightened cargo availability.
- The average Toluene price for the quarter was approximately USD 967.33/MT, industry sources reported consistently.
- Toluene Spot Price tightened as origin FOB offers reduced March loading programmes, limiting export availability.
- Toluene Price Forecast expects sustained firmness near-term driven by security premia and constrained exports regionally.
- Toluene Production Cost Trend showed modest upward pressure from higher freight insurance and crude increases.
- Toluene Demand Outlook remained firm for coatings, solvents and PU feedstocks, supporting purchasing and restocking.
- Toluene Price Index volatility increased as insurance premia and rerouting extended lead times for parcels.
- Domestic plants operated normally, export reductions and logistic risk elevated scarcity perceptions, prompting buyer restocking.
Why did the price of Toluene change in March 2026 in MEA?
- Export cargo tightness from Singapore and India raised CFR offers, amplifying upward pressure March indications.
- Regional security incidents inflated insurance and rerouting costs, tightening perceived availability and increasing premiums notably.
- Firm downstream procurement, especially coatings and PU sectors, combined with cautious restocking accelerated spot demand.
For the Quarter Ending December 2025
North America
- In USA, the Toluene Price Index rose by 4.45% quarter-over-quarter, reflecting downstream demand and inventory adjustments.
- The average Toluene price for the quarter was approximately USD 869.00/MT, reflecting moderated margins and balanced supply-demand dynamics.
- Toluene Spot Price movements tightened as Price Index volatility rose, reflecting constrained refinery throughput and tight merchant inventories.
- Toluene Price Forecast indicates limited upside near term, with seasonal restocking offset by abundant import competition.
- Toluene Production Cost Trend softened as lower crude and reformate values reduced feedstock costs and margin support.
- Toluene Demand Outlook remains mixed, petrochemical resilience contrasts with weaker coatings and automotive sector restocking.
- Rising Gulf export flows and logistic normalization pressured the Toluene Price Index, tempering upside potential.
- Operational disruptions at select refineries tightened regional supply briefly, but balanced inventories limited sustained rally potential.
Why did the price of Toluene change in December 2025 in North America?
- Steady refinery output and comfortable inventories reduced urgency, outweighing seasonal restocking and export resilience factors.
- Weaker crude and reformate values eased production costs, while elevated energy expenses constrained margin recovery.
- Year-end demand lull, heightened import competition and muted export channels amplified downward pressure on domestic prices.
APAC
- In Japan, the Toluene Price Index fell by 5% quarter-over-quarter, reflecting steady supply and softer downstream demand.
- The average Toluene price for the quarter was approximately USD 940.00/MT, reported from regional weekly assessments reflecting compiled quotations.
- Toluene Spot Price remained subdued amid comfortable supply and weak buying from coatings and solvent manufacturers.
- Toluene Price Forecast anticipates modest volatility driven by crude feedstock swings and seasonal downstream procurement patterns.
- Toluene Production Cost Trend was pressured by higher energy costs, though refinery margins and throughput remained relatively stable.
- Toluene Demand Outlook shows balanced consumption in automotive and construction while end-user restocking remains cautious before year-end.
- Toluene Price Index movements were impacted by inventory builds, steady exports, and muted derivative feedstock offtake activity.
- Regional trade flows and operational rates at major refiners constrained upside, limiting rapid recovery in Toluene market levels.
Why did the price of Toluene change in December 2025 in APAC?
- Softening crude benchmarks reduced feedstock valuation and weakened upstream cost support for regional aromatic pricing.
- Steady refinery output and ample inventories limited supply disruption, sustaining a comfortable market balance overall.
- Weaker downstream buying from coatings and solvents during year-end holidays curtailed demand, pressuring Toluene values further.
Europe
- In Spain, the Toluene Price Index fell by 1.76% quarter-over-quarter, reflecting stable supply and softer downstream demand.
- The average Toluene price for the quarter was approximately USD 837.00/MT, based on quarterly aggregates and FD Madrid assessments.
- Toluene Spot Price softness reflected comfortable stocks and subdued derivatives demand, exerting downward pressure on the Price Index.
- Toluene Price Forecast shows modest downside risk near-term as crude weakness offsets seasonal restocking and logistical constraints.
- Toluene Production Cost Trend was mixed with lower reformate costs but higher energy and refinery margin pressures.
- Toluene Demand Outlook remains cautious with steady TDI consumption offset by weaker coatings and consumer goods segments.
- Regional Toluene Price Index stability was supported by steady intra-EU trade and Asian import cargoes replenishing merchant inventories.
- Major refinery operations remained cautious; maintenance and selective run cuts intermittently tightened supply supporting short-lived regional price upticks.
Why did the price of Toluene change in December 2025 in Europe?
- Soft industrial demand and year-end slowdown reduced derivative offtake, easing upward pressure on Toluene prices.
- Stable refinery throughput and Asian imports-maintained availability, limiting short-term upside in the Price Index.
- Elevated energy costs partially offset weaker crude, resulting in muted Toluene price movement in December.
MEA
- In Saudi Arabia, the Toluene Price Index fell by 6.72% quarter-over-quarter, reflecting weaker demand, oversupply.
- The average Toluene price for the quarter was approximately USD 892.67/MT, reflecting reported trade-weighted values.
- Toluene Spot Price remained under pressure amid steady exports and inventories, keeping Price Index subdued.
- Toluene Price Forecast suggests modest recovery as seasonal procurement and construction demand support buying interest.
- Toluene Production Cost Trend eased with lower crude benchmarks, rising energy costs pressured refinery economics.
- Toluene Demand Outlook remains cautious, with muted downstream pull despite pockets of strength in construction.
- Inventory builds and steady exports weighed on Toluene Price Index, limiting upside despite logistical constraints.
- Operational disruptions risk is low, but refinery maintenance and shipment delays may tighten spot supply.
For the Quarter Ending September 2025
North America
- In USA, the Toluene Price Index rose by 1.67% quarter-over-quarter, reflecting tighter inventories and exports.
- The average Toluene price for the quarter was approximately USD 832.00/MT on FOB Texas basis.
- Toluene Spot Price firmed as Gulf export demand offset gasoline blending weakness and restrained demand.
- Toluene Price Forecast shows modest upside near-term due to Mexican outages and sustained crude volatility.
- Toluene Production Cost Trend rose as crude draws and higher freight increased refining economic pressures.
- Toluene Demand Outlook strengthened from export-led gasoline blending needs, while domestic industrial demand remained moderate.
- Toluene Price Index volatility moderated as refinery throughput stayed high, inventories balanced with restocking activity.
- Inventory builds and just-in-time buying limited immediate upside, while scheduled maintenance may tighten availability soon.
Why did the price of Toluene change in September 2025 in North America?
- Export demand surge from Mexican refinery outages increased US toluene liftings and tightened regional availability.
- Higher crude and freight costs elevated production expense, supporting upstream cost pass-through into Toluene prices.
- Robust refinery operating rates sustained supply, while lean inventories and cautious restocking influenced Price Index.
APAC
- In Japan, the Toluene Price Index fell by 5.05% quarter-over-quarter, driven by weak downstream demand trends.
- The average Toluene price for the quarter was approximately USD 989.33/MT on Ex-Osaka basis.
- Toluene Spot Price remained range bound mostly as steady imports and refinery output limited Price Index volatility.
- Toluene Price Forecast indicates modest seasonal recovery into Q4 supported by gasoline blending and restocking.
- Toluene Production Cost Trend eased as lower naphtha reduced input costs despite firmer crude benchmarks.
- Toluene Demand Outlook remains muted with weak coatings, adhesives, and TDI offtake limiting upside potential.
- Regional inventories rose due to discounted imports, pressuring spot offers and lowering Toluene Price Index.
- Major refiners ran steady while export competition from Korea and China influenced Price Index dynamics.
Why did the price of Toluene change in September 2025 in APAC?
- High refinery outputs amid ample feedstock availability reduced supply tightness, removing risk premiums and pressuring prices.
- Soft industrial demand from coatings, adhesives and TDI curtailed offtake, prompting sellers to lower quotations.
- Discounted imports and weaker exports elevated inventories, weakening demand and extending bearish Price Index trends.
Europe
- In Spain, the Toluene Price Index fell by 3.77% quarter-over-quarter, reflecting moderate to weak downstream demand and oversupply.
- The average Toluene price for the quarter was approximately USD 852.00/MT, FD Madrid settlement reported level.
- Toluene Spot Price remained range-bound due to port congestion and elevated logistics costs limiting export flows.
- Toluene Price Forecast indicates modest recovery pressure into Q4 as seasonal restocking offsets remaining demand weakness.
- Toluene Production Cost Trend firmed with higher crude, EU ETS allowances lifting extraction and refining costs.
- Toluene Demand Outlook remains subdued, with adhesives, coatings, and automotive sectors delaying procurement into late Q3.
- Toluene Price Index volatility narrowed as refiners prioritized contract volumes, keeping spot discounting, and destocking visible.
- Inventory levels stayed adequate, export demand muted, while regional refineries maintained normal runs without outages reported.
Why did the price of Toluene change in September 2025 in Europe?
- Weak domestic demand and downstream softness reduced procurement, exerting downward pressure on toluene quarter-end prices.
- Rising crude and EU ETS costs lifted production expense, tightening margins, and supporting toluene price levels.
- Port congestion and elevated logistics costs constrained exports, reducing arbitrage, and creating supply tightness in September.
MEA
- In Saudi Arabia, the Toluene Price Index fell by 5.4% quarter-over-quarter, driven by weak downstream demand.
- The average Toluene price for the quarter was approximately USD 957.00/MT based on CFR assessments.
- Toluene Spot Price showed mild upticks owing to brief port congestion and seasonal construction demand.
- Toluene Price Forecast indicates volatility ahead as mixed Asian demand and Q4 feedstock dynamics evolve.
- Toluene Production Cost Trend eased with softer Asian naphtha, reducing upstream cost support across producers.
- Toluene Demand Outlook remains muted as paints, TDI, solvent sectors delay buying amid export uncertainty.
- Toluene Price Index volatility reflected inventory management, export arbitrage and distributor buying ahead of seasonality.
- Steady imports and controlled refinery run supported supply while distributors paced restocking to manage exposure.
Why did the price of Toluene change in September 2025 in MEA?
- Easing crude softened feedstock costs, reducing producer price support, and thereby encouraging lower regional bids.
- Imports from South Korea remained steady, offsetting domestic refinery cuts and preventing spikes.
- Weak offtake from paints, TDI and petrochemical sectors suppressed spot demand, prompting conservative buyer behavior.
