Toluene Weekly Report 17 January 2020

Weekly Price Trend: 13-01-2020 to 17-01-2020

• The above given graph focuses on the Toluene price trend for current week. There has been decline in prices for this week.
• This week prices remained variable and firm for most of the week. By end of the week prices were assessed at the level of Rs.64/Kg for bulk quantity for Kandla and for Mumbai Rs.65/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.64/kg for bulk quantity for Kandla and Rs.65/Kg for Mumbai port.
• CFR India prices were evaluated at USD 730/MT, with no change in prices for this week. CFR China price of toluene were assessed at the level of USD 690/MT, remained unchanged while CFR SEA prices for this week were assessed around USD 730/MT.
• Benzene the major source for aromatic products also remained stable with no change in prices for this week. FOB Korea values for Benzene were assessed around USD 725/MT for this week, while CFR China prices were assessed at the level of USD 740/MT for this week.
• Oil prices remained steady on Friday as reports of sluggish economic growth in China, the world's biggest crude importer and it has already raised concerns about fuel demand and countered optimism from the signing of the Sino-U.S. trade deal earlier in the week.
• In the fourth quarter of 2019, the world's second-largest economy grew by an expected 6 per cent from a year earlier, while the full-year expansion was 6.1 per cent, the slowest in 29 years, as per the government data.
• On other side India and the United States will discuss India’s energy security and the Asian country buying increased volumes of U.S. crude oil when U.S. President Donald Trump and Indian Prime Minister Narendra Modi meet later this year.
• India was until recently Iran’s second-largest oil customer after China, but the U.S. sanctions on Iranian oil exports made India stop purchases of oil from Iran as refiners did not want to risk secondary U.S. sanctions if they continue doing business with Tehran.
• On Thursday, closing crude values have increased. WTI on NYME closed at $58.52/bbl. Prices have increased by 0.71/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.62/bbl in compare to last closing price and was assessed around $64.62/bbl.

$ 1 = Rs. 71.08

Import Custom Ex. Rate USD/ INR: 71.65                                            

Export Custom Ex. Rate USD/ INR: 69.95