Toluene Weekly Report 07 Oct 2017

Weekly Price Trend: 02-10-2017 to 06-10-2017

• 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 55/Kg for bulk quantity for Kandla and Rs 57/kg for Mumbai ports of India.

Booking Scenario

 
INDIA&INTERNATIONAL

• This week domestic market price was assessed at Rs 55/kg for Kandla and Rs. 57/kg for Mumbai ports of India.
• CFR India prices were evaluated at USD 720/mt, prices have remained firm in compares to previous week.
• CFR China price of toluene were assessed at the level of USD 685/mt.
• FOB Korea prices were evaluated at USD 665/mt prices has remained firmin compare to previous week.
• Past few months has been quite uprooting for Toluene market. There has been continuous surge in domestic values in China market.
• CPC Corp is planning to shut its Toluene unit for maintenance turnaround. The unit is likely to go off-stream in the mid of October for annual maintenance schedule. Unit is likely to remain off-stream for around 4-5 weeks. Unit is based at Kaohsiung in Taiwan and has the production capacity of 1,30,000 mt/year.
• CNOOC Huayue and Sinopec Shijiazhuang Refining has shut down their untis having the capacity of 5,40,000 mt/year and 2,70,000 mt/year. The units are still off-stream with no information about their restart schedule.
• With all these units off-stream the domestic market is quite obvious to feel the shortage of material. Moreover demand from downstream industry is limited for the chemical. As result most of the chemical is being consumed by immediate users. This has put an halt on the continuous surging of Toluene values.  Market experts believe that with restarting of the units by October the situation will become more normal and acceptable.
• This week domestic toluene prices have remained soft-to-firm as no major deals and discussion has been heard.
• This week oil prices have followed volatile trend. On Wednesday after slipping a bit oil prices rose on thurdsay on expectations that Saudi Arabia and Russia would extend production cuts, although record U.S. exports and the return of supply from a Libyan oilfield dragged on the market.
• On Thursday, closing crude values have increased.WTI on NYME closed at $50.79/bbl, prices have increased by $0.81/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.20/bbl in compared to last trading and was assessed around $57.00/bbl.

  $1 = Rs. 65.38         
 Import Custom Ex. Rate USD/ INR: 65.95
 Export Custom Ex. Rate USD/ INR: 64.30