Toluene Weekly Report 14 June 2019

Weekly Price Trend: 10-06-2019 to 14-06-2019

• The above given graph focuses on the Toluene price trend for current week.
• This week prices has reduced slightly and by end of the week prices were reduced by Rs.1/Kg in compare to last week’s closing values and were assessed at the level of Rs.49/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.49/kg for bulk quantity, reduced by Rs.1/Kg for bulk quantity.
• CFR India prices were evaluated at USD 635/MT, increased by USD 20/MTS for this week.
• CFR China price of toluene were assessed at the level of USD 625/MT, increased by USD 20/MR for this week. On other side FOB Korea prices were evaluated at USD 605/MT, increased by USD 20/MT for this week.
• CFR south East Asia price were evaluated at USD 630/MT, increased by USD 20/MT for this week.
• Benzene the major source for aromatic products has also reduced for this week FOB Korea values for Benzene were assessed around USD 615/MT, increased by USD 10/MT for this week. CFR China prices also increased for this week. Prices were assessed at the level of USD 600MT for this week.
• Oil prices remained flat most of the week with no major change until Thursday. On Thursday there was significant hike as there were two oil tankers hit by explosions in the Gulf of Oman between Iran and the United Arab Emirates (UAE).
• By Thursday morning, WTI Crude was surging 3.17% at $52.76, while Brent Crude was soaring 3.42% at $62.02, as renewed tension in the Middle East has the market worried that oil supply along the world’s most important chokepoints in the region may be under threat.
• The suspected attacks occurred one month after the UAE said in May that a total four vessels were attacked off its coast at the port of Fujairah, the world’s second-largest bunkering port.
• On Thursday day, closing crude values have increased. WTI on NYME closed at $52.28/bbl. Prices have increased by 1.14/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 1.34/bbl in compare to last closing price and was assessed around $61.31/bbl.

$ 1 = Rs. 69.83

Import Custom Ex. Rate USD/ INR: 70.30                                            

Export Custom Ex. Rate USD/ INR: 68.60