Toluene Weekly Report 19 July 2019

Weekly Price Trend: 15-07-2019 to 19-07-2019

• The above given graph focuses on the Toluene price trend for current week.
• This week prices remained volatile throughout this week. Prices reduced initially and later slight improvement was seen in the domestic values.
• By end of the week prices were assessed at the level of 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 decreased by Rs.2/Kg for bulk quantity.
• CFR India prices were evaluated at USD 675/MT, remained unchanged for this week.
• CFR China price of toluene were assessed at the level of USD 675/MT, slightly increased by USD 5/MTS for this week. On other side FOB Korea prices were evaluated at USD 645/MT, with no change in values for this week.
• CFR south East Asia price were evaluated at USD 680/MT, increased by USD 10/MT for this week.
• Benzene the major source for aromatic products has also increased significantly for this week. FOB Korea values for Benzene were assessed around USD635/MT, while CFR China prices also increased and were assessed at the level of USD 685/MT for this week.
• Crude prices continue to decline in international market as Crude has overvalued in the past weeks and the scenario might deteriorate soon. Even after declining Crude inventories in U.S. prices continue to decline for the fourth trading session.
• Further tension in the Middle East further escalated after U.S. claimed to destroy an Iranian drone in the Strait of Hormuz which is a prime route for the global crude flows.
• Further fresh concerns rising from the Middle East might hamper the supply and in turn support Crude prices. However, worries over global slowdown continue to hamper Crude prices as President Donald Trump stated that an actual deal between U.S. & China might take time but he wouldn’t fall back to impose tariffs on $325 billion worth of Chinese imports in U.S. if needed.
• On Thursday day, closing crude values have mixed. WTI on NYME closed at $55.28/bbl. Prices have decreased by 2.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 1.15/bbl in compare to last closing price and was assessed around $65.5/bbl. 

$ 1 = Rs. 68.80

Import Custom Ex. Rate USD/ INR: 69.65                                            

Export Custom Ex. Rate USD/ INR: 67.95