Toluene Weekly Report 08 Sep 2018

Weekly Price Trend: 03-09-2018 to 07-09-2018

• 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 66/Kg for bulk quantity for Kandla and Rs 66/kg for Mumbai ports of India.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market price was assessed at Rs 66/kg for Kandla and Rs.66/kg for Mumbai ports of India.
• CFR India prices were evaluated at USD 880/mt, prices have increased in compares to previous week.
• Asia toluene prices escalated on higher crude oil futures, strong margins and plant turnarounds, The FOB Korea prices of Toluene were assessed at $814.50/mt,
• Source said the market has primarily drawn support from an overall stronger oil complex.
• Toluene demand as a feedstock, in the production of petrochemical products such as isomer-grade mixed xylenes, has increased resulted increase in prices.
• CFR China toluene prices have increased with the FOB Korea market, keeping the arbitrage between the regions unprofitable. China is mostly staying out of the import market; report said that there might be some import inquiry, but only for one or two days for very prompt supply.
• CFR China price of toluene were assessed at the level of USD 855/mt.
• FOB Korea prices were evaluated at USD 820/mt prices has increased in compare to previous week.
• CFR south East Asia price were evaluated at USD 850/mt.
• This week Toluene prices have increased on improved demand sentiments from end users.
• There has been continuous soaring in crude prices in this week. The US inventories have fell to their lowest levels since February 2015.  US West Texas Intermediate (WTI) crude futures were at $67.90 per barrel at 0056 GMT, up 13 cents, or 0.2 per cent, from their last settlement.  International Brent crude futures climbed 12 cents, or 0.2 per cent, to $76.62 a barrel. With release of Oil inventory data last night, a large number has been drawn from crude inventories.
• Global oil markets have tightened over the last month, pushing up Brent prices by more than 10 per cent since the middle of August. Investors anticipate less supply from Iran as US sanctions on Tehran begin to bite.
•  With ship-tracking data now pointing at a reduction in Iranian exports, renewed strife in Libya, and Venezuelan export availability hobbled by an accident at the key Jose terminal, the list of bullish headlines is getting longer,” said Michael Dei-Michei, head of research at Vienna consultancy JBC Energy.
• US is quite actively tracking the flow of crude and has managed to use its sanctions very actively against Iran. They are forcing many western companies to cease export from Iran and avoid trading with them.
• Contrary to this India and China are making efforts to continue their imports from using one or other way. Global oil markets have tightened over the last month, pushing up Brent prices by more than 10 per cent since the middle of August. Investors anticipate less supply from Iran as US sanctions on Tehran begin to bite.

 $1 = Rs. 71.73
 Import Custom Ex. Rate USD/ INR: 71.10
 Export Custom Ex. Rate USD/ INR: 69.40