Toluene Weekly Report 1 November 2019

Weekly Price Trend: 28-10-2019 to 01-11-2019

• The above given graph focuses on the Toluene price trend for current week. There has been no change in prices for this week.
• This week prices remained soft-to-stable throughout this week. By end of the week prices were assessed at the level of Rs.54/Kg for bulk quantity for Kandla and for Mumbai ports of India.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic market price was assessed at Rs.54/kg for bulk quantity remained unchanged for this week.
• CFR India prices were evaluated at USD 663/MT, reduced by USD 14/MT for this week.
• CFR China price of toluene were assessed at the level of USD 648/MT, reduced slightly for this week.
• Benzene the major source for aromatic products also reduced for this week. FOB Korea values for Benzene were assessed around USD 625/MT for this week, while CFR China prices were assessed at the level of USD 648/MT for this week.
• Indian markets are operating on reduced rate as country is festive mood. Market has not resumed its operations in full swing and will operate with full capacity Monday onwards.
• Moreover the political turmoil over the formation of government in Maharashtra state has been concern for the traders as well as business leaders.
• Oil prices steadied on Friday after a rough week, squeezed about 4 per cent lower by a combination of rising global supply and uncertain future demand.
• Worries over global economic growth, along with oil demand, continued to haunt the market as leaders from the United States and China continue to struggle to end a 16-month dispute that has roiled trade between the world's top two economies. "Concerns about the US-China trade dispute have come home to roost," said Stephen Innes, Asia Pacific market strategist at AxiTrader. "Framing this doom and gloom view is the massive US inventory build and the horrendous economic data released over.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $54.18/bbl. Prices have decreased by 0.88/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.38/bbl in compare to last closing price and was assessed around $60.23/bbl.

$ 1 = Rs. 70.81

Import Custom Ex. Rate USD/ INR: 72.30                                            

Export Custom Ex. Rate USD/ INR: 70.60