Toluene Weekly Report 12 June 2020

Weekly Price Trend: 08-06-2020 to 12-06-2020

• The above given graph focuses on the Toluene price trend for current week. There has been rise in the prices for this week.
• This week prices increased lightly for this week. Prices were assessed at the level of Rs.40/Kg for Kandla and for Mumbai port. Prices were improved by Rs.5/Kg for this week for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic market price was assessed at Rs.40/kg for bulk quantity for Kandla and for Mumbai port. Domestic prices increased slightly for this week.
• CFR India prices were evaluated at USD 425-445/MT for this week. FOB Korea values for Toluene was assessed around USD 405-425/MT for this week. There has been significant rise in international prices for Toluene. Prices increased by USD 25/MT for this week.
• CFR China price of toluene were assessed at the level of USD 442/MT for this week. While CFR SEA prices for this week were assessed around USD 410/MT.
• FOB Korea values for Benzene were assessed around USD 435/MT for this week. There has been increase of USD 18/MT in Benzene values for this week. The outbreak in prices of crude has affected whole of the petrochemical market. CFR China prices were assessed at the level of USD 445/MT for this week.
• There has been big slump in crude prices for this week. Oil prices crashed by 7 percent on Thursday, after the EIA reported on Wednesday.
• The plunge in prices set them on course for the worst daily crash since late April this year.
• Over the past few days, the oil market has been spooked by rising U.S. commercial inventories that suggest that the oil demand recovery is not as smooth as some had initially expected.
• The supply cuts have been driving the recent oil price rally, the market seemed to have banked on a steady global demand recovery similar to China’s after it exited lockdowns earlier than the other countries.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $36.34/bbl. Prices have decreased by 3.26/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 3.18/bbl in compare to last closing price and was assessed around $38.55/bbl. 

$ 1 = Rs. 75.84

Import Custom Ex. Rate USD/ INR: 76.45                                            

Export Custom Ex. Rate USD/ INR: 74.75