Toluene Weekly Report 10 March 2018

Weekly Price Trend: 05-03-2018 to 09-03-2018

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

• This week prices have remained volatile. By the end of the week domestic prices were assessed at Rs 49.5/Kg for bulk quantity for Kandla and Rs 49.5/kg for Mumbai ports of India.

 Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market price was assessed at Rs 49.5/kg for Kandla and Rs. 49.5/kg for Mumbai ports of India.
• CFR India prices were evaluated at USD 740/mt, prices have plunged in compares to previous week.
• CFR China price of toluene were assessed at the level of USD 690/mt.
• FOB Korea prices were evaluated at USD 685/mt prices has decreased in compare to previous week.
• As per report, Toluene prices in east China plunged after a short increase, then again increased slightly.
• Near term demand in China is expected to remain weak as most buyers have already procured cargoes before Lunar New Year holidays.
• East China ports this week cargo arrival around at 8,000 mt will add to inventory pressure and weigh on buying interest.
• Market players have said that in the FOB Korea market supply will remain tight on plants turnarounds in March may offer support.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $60.12/bbl; prices have decreased by $1.03/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.73/bbl in compared to last trading and was assessed around $63.61/bbl.
• On Friday, crude oil futures rose as Asian stock markets gained on North Korean leader Kim Jong Un will meet with U.S. President Donald Trump.
• As per report, U.S. crude output is expected to surge beyond 11 million bpd by late 2018, limiting the effectiveness of output cuts by the Organization of the Petroleum Exporting Countries, Russia and other producers.

 $1 = Rs. 65.16
 Import Custom Ex. Rate USD/ INR: 66.10
 Export Custom Ex. Rate USD/ INR: 64.40