Toluene Weekly Report 12 July 2019 13 Jul 19, 11:19 am

Toluene Weekly Report 12 July 2019

Weekly Price Trend: 08-07-2019 to 12-07-2019

The above given graph focuses on the Toluene price trend for current week.
This week prices has improved slightly and by end of the week prices were increased by Rs.2/Kg in compare to last week’s closing values and were assessed at the level of Rs.55/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.55/kg for bulk quantity decreased by Rs.1/Kg for bulk quantity.
CFR India prices were evaluated at USD 675/MT, increased by USD 5/MTS for this week.
CFR China price of toluene were assessed at the level of USD 670/MT, remained unchanged for this week. On other side FOB Korea prices were evaluated at USD 645/MT, increased by USD 5/MT for this week.
CFR south East Asia price were evaluated at USD 670/MT, increased by USD 15/MT for this week.
Benzene the major source for aromatic products has also increased significantly for this week. FOB Korea values for Benzene were assessed around USD700/MT, while CFR China prices also increased and were assessed at the level of USD 705/MT for this week.
Market will react more aggressively in India as today first budget has been declared by the new government. The implication of budget on petrochemical segment will be visible on Monday.
Crude oil prices rose 0.61 percent to Rs 4,157 per barrel in futures trade on July 12 as speculators raised their exposure, tracking a rebound in global markets.
Non-OPEC crude oil supply will rise by 2.4 million bpd next year, OPEC said in its latest Monthly Oil Market Report.
The cartel added that the rise would be driven by the addition of new pipeline capacity in North America, most likely meaning the United States as Canada’s pipeline woes continue and Mexico struggles to reverse declining production. In fact, OPEC mentioned the natural decline of production in Mexico would offset the effect of rising non-OPEC supply somewhat.
It’s not just the U.S. that will expand production, however. New projects in Norway, Brazil and Australia will also contribute to the increase in non-OPEC supply.
On Thursday day, closing crude values have decreased. WTI on NYME closed at $60.20/bbl. Prices have decreased by 0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.49/bbl in compare to last closing price and was assessed around $66.52/bbl