Toluene Weekly Report 14 August 2020

Weekly Price Trend: 10-08-2020 to 14-08-2020

• The above given graph focuses on the Toluene price trend for current week. There has been slight improvement in domestic values for Toluene.
• This week prices again declined by end of the week. Prices were assessed at the level of Rs.36/Kg for Kandla and for Mumbai port. Prices increased by Rs.1/Kg for this week.

Booking Scenario

INDIA&INTERNATIONAL 

• This week domestic market price was assessed at Rs.36/kg for bulk quantity for Kandla andfor Mumbai port. Domestic pricesslightly reduced for this week.
• CFR India prices were evaluated at USD 395-415/MTfor this week. FOB Korea values for Toluene was assessed around USD 375-395/MT for this week. There hasbeendecline of USD 20/MT for this week.
• CFR China price of toluene were assessed at the level of USD 410/MT for this week
• FOB Korea values for Benzene were assessed around USD 430/MT for this week. There has been a fall of USD 10/MT in Benzene values. CFR China prices were assessed at the level of USD 440/MT for this week.
• There have been heavy rains in the western part of India specifically Mumbai which has halted all the port as well as other operations.
• There has been mixed trend in petrochemical market. Prices for the specific category of chemicals have been declining with slowdown in demand. Petrochemical segment has been struggling owing oversupply. There has been steep decline in consumption as most of the economies in Asian subcontinent are passing through major recession phase.
• To add to their woes the downstream industry continues to operate at reduced rates due to poor demand and supply factors. Inventories are piling up in domestic industry which is an alarming signal for everyone.
• Most major countries in southeast Asia posted sharp economic contractions in the second quarter, while the number of infections in countries such as Indonesia, the Philippines and India continue to spike.
• Producers are not lowering offers substantially to maintain some margins due to a relatively stable feedstock acetic acid market.
• China, which was the original epicentre of the outbreak, new cases are still being reported daily.India stands fourth in the tally of highest number of Covid infections 

$1 = Rs. 74.88

Import Custom Ex. Rate USD/ INR: 75.75                                            

Export Custom Ex. Rate USD/ INR: 74.00