Toluene stocks in East China rose 44.4% from September to 45,000 mt in October, according to S&P Global Platts data.
The rise in inventory was the result of a backlog of cargo arrivals during the week-long National Day holiday in early October and vessel delays due to bad weather, a Chinese market source said Tuesday.
“Due to the typhoon, many vessels that were supposed to discharge in Zhangjiagang in mid-October were delayed,” the source added.
“Despite the rise in inventory levels in October, this was still below the usual 80,000 mt inventory level typical in East China. The drop in inventory in the past few weeks was a result of firm toluene demand for use in the gasoline blending pool. In the last few days, however, toluene use in gasoline blending had tapered down on ample C9 mixed aromatics supply,” another source said.
The last time toluene stocks in East China stood at this level was on August 21, when the inventory was 80,000 mt, according to Platts data.
