Toluene Weekly Report 05 Aug 2017

Weekly Price Trend: 31-07-2017 to 04-08-2017

• The above given graph focuses on the Toluene price trend for current week.

• This week prices have followed volatile trend. By the end of the week domestic prices were assessed at Rs 45Kg for bulk quantity for Kandla and Mumbai ports of India.

Booking Scenario

 
INDIA&INTERNATIONAL

• This week domestic market price was assessed at Rs 45/kg for Kandla and Rs. 45/kg for Mumbai ports of India.
• CFR India prices were evaluated at USD 675/mt, prices have increased in compares to previous week.
• CFR China price of toluene were assessed at the level of USD 635/mt.
• FOB Korea prices were evaluated at USD 625/mt prices has increasedin compare to previous week.
• This week toluene prices have increased in domestic market on account of increase demand sentiment from end users.
• East China toluene prices have increase after unstable week.
• CNOOC is in plans aromatics unit maintenance placed in Guangdong.
• This week prices have remained volatile. On Thursday oil prices plunged as watchful buying dried up after U.S. crude rose to nearly $50 a barrel. On Thursday, WTI on NYME closed at $49.03/bbl, prices have decreased by $0.56/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.35/bbl in compared to last trading and was assessed around $52.01/bbl.
• Investors looked ahead to an OPEC meeting next week for fresh insight into the oil cartel's commitment to improve compliance with the deal to curb production.
• However, Market participant downplayed the importance of the meeting next week, suggesting oil prices may struggle to sustained upward momentum.
• Report said that, absent further production cuts or a sustained uptick in demand, prices are likely to remain in the low to mid $50s for the remainder of the year. There are signs that the oil industry has adapted to an era of low prices and can produce and operate at levels that would previously have been uneconomic.

  $1 = Rs. 63.58         
 Import Custom Ex. Rate USD/ INR: 64.55
 Export Custom Ex. Rate USD/ INR: 62.85