Toluene Weekly Report 18th September 2020

Weekly Price Trend: 14-09-2020 to 18-09-2020

• The above given graph focuses on the Toluene price trend for current week. Prices remained stable throughout this week.
• This week prices have been oscillating in the range of Rs.35-36 for past one month. Prices were assessed at the level of Rs.36/Kg for Kandla and Rs.35.5/Kg for Mumbai port.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.36/kg for bulk quantity for Kandla and Rs.35.5/Kg for Mumbai port. Domestic prices remained highly volatile for this week.
• CFR India prices were evaluated at USD 430-450/MT for this week. FOB Korea values for Toluene was assessed around USD 405-425/MT for this week. Prices reduced by USD 25/MT for this week.
• CFR China price of toluene were assessed at the level of USD 435/MT for this week
• FOB Korea values for Benzene were assessed around USD 420/MT for this week. There has been slight improvement in Benzene prices for this week. an slowdown of USD 15/MT for this week. CFR China prices were assessed at the level of USD 433/MT for this week.
• The global market is feeling the heat of pandemic and exports across the nations has dropped significantly. Singapore the energy hub in the South Asian region has witnessed the decline in exports by 16.4%.
• To add to the woes the geopolitical tension with China has been hitting hard the country imports and has affected the further demand in the country.
• Rising corona cases post 4^th Lockdown has affected each and every sector of the society. The country has been next two Brazil and the numbers are increasing with each passing day. The new normal is but difficult for the whole society.
• Crude values have been observed on surging trend. Oil prices rose for a fourth day in a row on Friday, putting crude on track for a weekly gain of about 10%, after Saudi Arabia pressed allies to stick to production quotas and banks including Goldman Sachs predicted a supply deficit/
• On Thursday closing, there was heavy rise in crude prices. WTI on NYME closed at $40.97/bbl. Prices increased by 0.88/bbl in compared to last closing prices. While Brent on Inter Continental Exchange has reduced by $1.08/bbl in compare to last closing price and was assessed around $43.30/bbl.

$ 1 = Rs. 73.44

Import Custom Ex. Rate USD/ INR: 74.60                                            

Export Custom Ex. Rate USD/ INR: 72.90