Toluene Weekly Report 17 July 2020

Weekly Price Trend: 13-07-2020 to 17-07-2020

• The above given graph focuses on the Toluene price trend for current week. There has been decline in domestic values for Toluene.
• This week prices reduced for this week. Prices were assessed at the level of Rs.38/Kg for Kandla and for Mumbai port. Prices remained unchanged in the later half of this week.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic market price was assessed at Rs.38/kg for bulk quantity for Kandla and for Mumbai port. Domestic prices remained unchanged for this week.
• CFR India prices were evaluated at USD 420-440/MT for this week. FOB Korea values for Toluene was assessed around USD 400-420/MT for this week. There has been no change in prices for this week.
• CFR China price of toluene were assessed at the level of USD 430/MT for this week. While CFR SEA prices for this week were assessed around USD 425/MT.
• FOB Korea values for Benzene were assessed around USD 415/MT for this week. There has been no change in Benzene values for this week. CFR China prices were assessed at the level of USD 428MT for this week.
• Oil prices were broadly stable on Friday in early U.S. trading, as expectations of more economic stimulus programmes balanced concerns about the recovery in fuel demand as coronavirus cases surge and major crude-producing nations ready increases in output.
• Brent crude futures fell 15 cents to $43.22 a barrel by 12:10 EDT (1610 GMT). U.S. West Texas Intermediate (WTI) crude dropped 6 cents to $40.69. Both contracts were on track to remain broadly flat over the week.
• Lawmakers in the United States and the European Union are set to debate the next tranches of stimulus programmes over the coming days. "While virus cases remain on the rise in providing an upside price limiter, expectations for some additional Congressionally driven stimulus appear to be offering support to equities that is spilling into the oil space. Benchmark crudes fell 1% on Thursday after the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, agreed to trim record supply cuts of 9.7 million barrels per day (bpd) by 2 million bpd, starting in August.

$ 1 = Rs. 75.02

Import Custom Ex. Rate USD/ INR: 76.10                                            

Export Custom Ex. Rate USD/ INR: 74.40