Toluene Weekly Report 11 Jan 2019

Weekly Price Trend: 07-01-2019 to 11-01-2019

• The above given graph focuses on the Toluene price trend for current week.
• This week prices have remained highly volatile and have been on increasing trend. By the end of the week domestic prices were assessed at Rs. 51/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 48/kg for Kandla and for Mumbai ports of India.
• CFR India prices were evaluated at USD 600/MT, increased by USD 30/MT in compare to last week’s closing values. CFR China price of toluene were assessed at the level of USD 595/MT.
• FOB Korea prices were evaluated at USD 565/MT, improved by USD 35/MT in compare to previous week.
• CFR south East Asia price were evaluated at USD 570/MT. Benzene FOB Korea prices increased heavily by USD 40/MT for this week. FOB Korea values were assessed around USD 560/MT. On other side CFR China prices for Benzene were assessed USD 580/MT for this week.
• Toluene prices have been slowly forwarding ahead in prices. The market sentiments has been responding on positive note, although crude market has remained sluggish enough.`
• Crude prices remained volatile throughout this week. There has been rise decline in crude prices since December. The impact is seen all the major petrochemical prices. The experts believe it to be meltdown of some giant economies of the world.
• China is the major country Asia facing the huge slowdown in its economy. Oversupply with limited demand of petrochemical has been pushing the price to melt further.
• Experts do believe that now Brent and WTI are expected to trade between $60 and $70 a barrel by the second half of this year, unless a sharp global economic slowdown affects the outlook for global oil demand.
• While OPEC is expected to cut its output in 2019 in an attempt to balance the market, US production should maintain its upward momentum.
• Oil tripped on Friday amid concerns and apprehensions over the outlook for the global economy, but output cuts agreed by major exporters underpinned crude prices and kept markets on track for a strong weekly climb. 

 $1 = Rs. 70.49

 Import Custom Ex. Rate USD/ INR: 71.25

 Export Custom Ex. Rate USD/ INR: 69.55