Toluene Weekly Report 10 January 2020

Weekly Price Trend: 06-01-2020 to 10-01-2020

• The above given graph focuses on the Toluene price trend for current week. There has been heavy variation in prices for this week.
• This week prices remained variable and firm for most of the week. By end of the week prices were assessed at the level of Rs.65/Kg for bulk quantity for Kandla and for Mumbai Rs.66/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.65/kg for bulk quantity for Kandla and Rs.66/Kg for Mumbai port.
• CFR India prices were evaluated at USD 730/MT, with an increase in prices for this week. CFR China price of toluene were assessed at the level of USD 690/MT, increased by USD 10/MT for this week.CFR SEA prices for this week were assessed around USD 740/MT.
• Benzene the major source for aromatic products also remained stable with no change in prices for this week. FOB Korea values for Benzene were assessed around USD 735/MT for this week, while CFR China prices were assessed at the level of USD 730/MT for this week.
• Benzene the major source for aromatic products also remained variable this week. FOB Korea values for Benzene were assessed around USD 715/MT for this week, while CFR China prices were assessed at the level of USD 740/MT for this week.
• The market shifted its focused towards rising U.S. crude stocks and away from fears of an imminent escalation of conflict between the United States and Iran.
• There was initial fall in the prices on Wednesday, prices were seen some rise on Thursday. During European trading hours Iranian media carried reports of military commanders speaking of further action aimed at expelling U.S. troops from the region.
• With growing geopolitical tensions appear to enter a new equilibrium, the overall supply conditions in the market tend to favor oil reverting lower.
• On Thursday closing crude values have decreased. WTI on NYME closed at $59.56/bbl. Prices have decreased by 0.05/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.07/bbl in compare to last closing price and was assessed around $65.37/bbl.

$ 1 = Rs. 70.93

Import Custom Ex. Rate USD/ INR: 72.15                                            

Export Custom Ex. Rate USD/ INR: 70.45