Toluene Weekly Report 06 Oct 2018

Weekly Price Trend: 01-10-2018 to 05-10-2018

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

• This week prices have increased. By the end of the week domestic prices were assessed at Rs 68/Kg for bulk quantity for Kandla and Rs 69/kg for Mumbai ports of India.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market price was assessed at Rs 68/kg for Kandla and Rs.69/kg for Mumbai ports of India.
• CFR India prices were evaluated at USD 850/mt, prices have plunged little in compares to previous week.
• CFR China price of toluene were assessed at the level of USD 835/mt.
• FOB Korea prices were evaluated at USD 805/mt prices has remained firm in compare to previous week.
• CFR south East Asia price were evaluated at USD 845/mt.
• As per report, Philippines' Petron to close 2019 toluene tender on 8 Oct.
• Some petrochemicals prices in Asia increased with higher crude prices on account of re-imposition of US sanctions on Iran next month. Crude prices have been rising on concerns over the potential loss of supply from Iran, when the US sanctions hit on 4 November.
• Presently in China due to week long holiday demand sentiments have been firm.
• As per source, in the toluene market, prices have remained firm despite upstream gains and a narrower naphtha-toluene spread in the paper market, due to firm trade from Chinese buyers.
• There has been heavy fluctuation in crude prices in this week. As the month of November is approaching fast the heat of sanction felt in the crude values across the world.
• On Thursday crude prices plunged due to rise in the inventory levels in US. But this hike was again pulled back on Thursday. Saudi Arabia and Russia has stated they will increase the crude supply but could not fill the void created by disruption of supply from Iran.
• With short supply from the price for crude is likely to reach a mark of $90 to $100 per barrel. On Wednesday, Saudi Energy Minister Khalid al-Falih said the kingdom was pumping near record levels and would raise output in November. Saudi Arabia is one of the few countries with the ability to significantly raise output. Many experts believe that the spar capacity of specified by Saudi is merely a statement but does exist in reality.

  $1 = Rs. 73.78
 Import Custom Ex. Rate USD/ INR: 74.60
 Export Custom Ex. Rate USD/ INR: 72.90