Toluene Weekly Report 12 April 2019

Weekly Price Trend: 08-04-2019 to 12-05-2019

• The above given graph focuses on the Toluene price trend for current week.
• This week prices have improved in domestic market and have remained firm throughout this week. By the end of the week domestic prices were assessed at 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.
• CFR India prices were evaluated at USD 710/MT, improved by USD 20/MTS for this week.
• CFR China price of toluene were assessed at the level of USD 710/MT, increased by USD 10/MT for this week. On other side FOB Korea prices were evaluated at USD 700/MT, improved by USD 10/MT for this week.
• CFR south East Asia price were evaluated at USD 735/MT, increased by USD 15/MT for this week
• Benzene FOB Korea prices, this week again prices has increased consistently. FOB values were assessed around USD 630/MT increased by USD 25/MT for this week. On other side CFR China prices for Benzene were assessed USD 610/MT, increased by USD 25/MT for this week.
• There have been constant rise in values due to strengthening of crude values in international market. These nations are already in black list of US, now with strong connection among these countries the trigger is felt by the US government.
• US President is trying hard to completely cut off imports from Iran. Soon it will take the decision of complete shutting of waiver provided to other five nations. This complete hold off will choke the supply of crude in international market and will push up the prices.
• Since the cost of U.S. crude oil has jumped 12%, international Brent crude is trading above $70 a barrel, and the national average gasoline price is up 30 cents a gallon.
• The primary reason for the run-up is simple: The market is tightening. That means a global oversupply of crude is draining, bringing supply and demand into balance and putting the market at risk of flipping into shortage.
• Venezuelan crude production has dropped below 1 million barrels per day (bpd) due to U.S. sanctions, the International Energy Agency said on Thursday, even below the 960,000 bpd OPEC reported on Wednesday.

PLANT NEWS

• Aromatic unit restarted by Sinopec Qilu Co after brief maintenance. The aromatic unit here manufacturers Benzene, Toluene and Mixed Xylene. Earlier the unit was shut down on 16th March 2019 for annual maintenance.
• Unit is based at Zibo in China and has the production capacity of Reformate 110,000 / 192,000 / 120,000; Disproportionate 30,000 /0/ 30,000; Py-Gas 200,000 / 90,000 / 90,000 respectively. 

 $ 1 = Rs. 69.27

 Import Custom Ex. Rate USD/ INR: 69.45

 Export Custom Ex. Rate USD/ INR: 67.75