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Asian toluene market sees signs of recovery in May 2025

Insights

• Toluene prices across Asia dropped sharply from Jan to Apr due to weak demand, low crude oil prices, and cautious buying amid economic uncertainty.
• However, prices began recovering in May, driven by rising crude oil and freight costs and shifting tariff policies.
• Despite lower demand, falling freight rates have improved shipping economics, partially easing import cost pressures for the toluene market.