Toluene Weekly Report 11 September 2020

Weekly Price Trend: 07-09-2020 to 11-09-2020

• The above given graph focuses on the Toluene price trend for current week. Prices remained stable throughout this week. 
• This week prices improved slightly in compare to last week’s closing values. Prices were assessed at the level of Rs.37/Kg for Kandla and for Mumbai port.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.37/kg for bulk quantity for Kandla and for Mumbai port. Domestic prices remained highly volatile for this week.
• CFR India prices were evaluated at USD 450-470/MT for this week. FOB Korea values for Toluene was assessed around USD 430-450/MT for this week. Prices increased by USD 10/MT for this week.
• CFR China price of toluene were assessed at the level of USD 400/MT for this week
• FOB Korea values for Benzene were assessed around USD 415/MT for this week. There has been an slowdown of USD 15/MT for this week. CFR China prices were assessed at the level of USD 425/MT for this week. Prices have reduced by USD 15/MT for this week.
• The havoc of Coronavirus seems to be unending in India. The cases has been highest in the world and it has been affecting the Indian economy very badly. This in turn has affected the demand in petrochemical industry. The GDP of the country has been lowest in last 24 years.
• With upliftment of restriction the number of cases has increased by many folds.
• Demand sentiments has become very weak for Acetic Acid with slowdown in buying from end user prompting for reduction in prices.
• The Indian economy has battered due to lockdowns and disruption in supply and further hattered consumer demands. Government is concerned and working hard for the sustainable growth in fourth quarter.
• On Thursday closing, there was significant decline in crude prices. WTI on NYME closed at $37.30/bbl. Prices reduced by $0.75/bbl in compared to last closing prices. While Brent on Inter Continental Exchange has reduced by $0.73/bbl in compare to last closing price and was assessed around $40.06/bbl.

$ 1 = Rs. 73.53

Import Custom Ex. Rate USD/ INR: 74.10                                            

Export Custom Ex. Rate USD/ INR: 72.40