Toluene Weekly Report 19 April 2019

Weekly Price Trend: 15-04-2019 to 19-04-2019

• The above given graph focuses on the Toluene price trend for current week.
• This week prices remained vulnerable but by end of the week there was no change in values comparing last week prices.
• By the end of the week domestic prices were assessed at Rs.54/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.54/kg for bulk quantity.
• CFR India prices were evaluated at USD 720/MT, improved by USD 10/MTS for this week.
• CFR China price of toluene were assessed at the level of USD 707/MT, reduced by USD 10/MT in compare to last week’s closing values. On other side FOB Korea prices were evaluated at USD 710/MT, improved by USD 10/MT for this week.
• CFR south East Asia price were evaluated at USD 740/MT, increased by USD 5/MT for this week
• Benzene FOB Korea prices, this week again prices has increased consistently. FOB values were assessed around USD 636/MT increased by USD 6/MT for this week. On other side CFR China prices for Benzene were assessed USD 628/MT, increased by USD 18/MT for this week.
• The election period going in the country has been major factor affecting the sentiments for Indian economy. Traders are in mood to know first about the government to take lead and then make any fresh position in the market.
• Crude has been on upward trajectory since past few weeks, but with slowdown in buying has led to correction in values.
• The renewed concerns over rising US inventory and production as well as concerns over a global economic slowdown helped put a lid on the prices.
• On the demand front, China’s state-owned energy giant Sinopec had resumed buying US oil, which was bullish for the market. The EIA reported that US crude exports to China had dried up from mid-2018 through recent weeks, after having averaged over 300,000 bpd in first half of last year. 

 $ 1 = Rs. 69.35

 Import Custom Ex. Rate USD/ INR: 70.40

 Export Custom Ex. Rate USD/ INR: 68.70