Toluene Weekly Report 14 February 2020
Weekly Price Trend: 10-02-2020 to 14-02-2020
- The above given graph focuses on the Toluene price trend for current week. There has been plunge in the prices for this week.
- This week prices increased and by the end of the week prices were assessed at the level of Rs.57/Kg for bulk quantity for Kandla and for Mumbai Rs.58/Kg for bulk quantity.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic market price was assessed at Rs.57/kg for bulk quantity for Kandla and Rs.59/Kg for Mumbai port.
- CFR India prices were evaluated at USD 675/MT, remained unchanged for this week. CFR China price of toluene were assessed at the level of USD 605/MT, remained stable for this week. While CFR SEA prices for this week were assessed around USD 640/MT.
- Benzene the major source for aromatic products also decline heavily for this week. FOB Korea values for Benzene were assessed around USD 659/MT for this week, remained unchanged for this week while CFR China prices were assessed at the level of USD 660/MT for this week again reduced by USD20/MT for this week.
- Oil futures ended higher Thursday, extending their streak of gains to a third straight session, as the potential for OPEC+ output cuts fueled some optimism, despite a rise in the number of COVID-19 cases in China and lower forecasts for oil demand growth.
- Analysts said the fall in crude oil futures in the initials of the week was mostly due to trimming of positions by traders amid weak spot demand.
- Crude prices are cautiously eyeing a three-day winning streak amid a broader bearish move, as potential OPEC+ action and efforts to contain COVID-19 spread leave room for optimism,” said Robbie Fraser, senior commodity analyst at Schneider Electric, in a note.
- While confirmed cases of COVID-19…recently spiked according to reports out of China’s Hubei province, the increase is being attributed to a change in methodology for diagnosing the virus rather than a sudden increase in transmission.
- On Thursday, closing crude values have increased. WTI on NYME closed at $51.42/bbl. Prices have increased by 0.25/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.55/bbl in compare to last closing price and was assessed around $56.34/bbl
PLANT NEWS
Aromatic unit no2 to be restarted by Petrochemical Corporation Singapore
Petrochemical Corporation Singapore (PCS) has restarted its aromatic unit no2 after an unscheduled shutdown. Earlier the unit was shut down due to some technical issues in the last week of December. The company restarted its production last week.
Unit is based at Ayer Merbau, Jurong island of Singapore and has the production capacity of 1,68,000 mt/year of benzene, 91,000 mt/year of toluene and 64,000 mt/year of mixed xylene.
$ 1 = Rs. 71.40
Import Custom Ex. Rate USD/ INR: 71.65
Export Custom Ex. Rate USD/ INR: 69.95
