Toluene Weekly Report 19 June 2020 22 Jun 20, 12:21 pm

Toluene Weekly Report 19 June 2020

Weekly Price Trend: 15-06-2020 to 19-06-2020

The above given graph focuses on the Toluene price trend for current week. There has been rise in the prices for this week.
This week prices reduced significantly for this week. Prices were assessed at the level of Rs.36/Kg for Kandla and for Mumbai port. Prices were reduced by Rs.4/Kg for this week for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

This week domestic market price was assessed at Rs.36/kg for bulk quantity for Kandla and for Mumbai port. Domestic prices increased slightly for this week.
CFR India prices were evaluated at USD 435-455/MT for this week. FOB Korea values for Toluene was assessed around USD 415-435/MT for this week. There has been rise of USD/MT in international prices for Toluene.
CFR China price of toluene were assessed at the level of USD 440/MT for this week. While CFR SEA prices for this week were assessed around USD 435/MT.
FOB Korea values for Benzene were assessed around USD 425/MT for this week. There has been decline of USD 10/MT in Benzene values for this week. The outbreak in prices of crude has affected whole of the petrochemical market. CFR China prices were assessed at the level of USD 430/MT for this week.
There has been big slump in crude prices for this week. Oil prices crashed by 7 percent on Thursday, after the EIA reported on Wednesday.
On Wednesday, closing crude values have decreased. WTI on NYME closed at $37.96/bbl. Prices have decreased by 0.42/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.25/bbl in compare to last closing price and was assessed around $40.71/bbl.
Fears of a second wave of coronavirus pandemic and escalating global geopolitical tensions continue to support gold’s haven demand. Meanwhile, hopes of a quick economic recovery and a steady dollar are likely to limit major upsides.
The face-off between India and China has been the talk of discussion throughout this week.
The tight situation on the borders has affected the peace among two nations and the situation is likely to last for a while.
China is one of the biggest exporters of petrochemical to India. If tensions continued then there will be major impact on petrochemical imports from China.
Asian petrochemical lowered heavily while oil prices declined on Monday over revival of news cases and fears of a second coronavirus wave in view of recent spikes in the US and China.
"US COVID-19 remains on the radar as infection cases topped 2mln while many states in US like Texas, Arizona, Florida, North Carolina, are experiencing rising COVID-19 infection increasing ICU utilization, even as the states are undertaking plans to reopen their economies," Singapore-based UOB Global Economics & Markets Research said.
Global cases of the coronavirus are approaching 8m, with India's cases surpassing 300,000 on Sunday, according to latest World Health Organization (WHO) data.
China on 13 June imposed lockdowns in parts of Beijing following evidence of a new virus cluster at one of its districts.
All the economies around the world are worried and are under great pressure due to Covid 19.
Asian petrochemical lowered heavily while oil prices declined on Monday over revival of news cases and fears of a second coronavirus wave in view of recent spikes in the US and China.
"US COVID-19 remains on the radar as infection cases topped 2mln while many states in US like Texas, Arizona, Florida, North Carolina, are experiencing rising COVID-19 infection increasing ICU utilization, even as the states are undertaking plans to reopen their economies," Singapore-based UOB Global Economics & Markets Research said.
Global cases of the coronavirus are approaching 8m, with India's cases surpassing 300,000 on Sunday, according to latest World Health Organization (WHO) data.
China on 13 June imposed lockdowns in parts of Beijing following evidence of a new virus cluster at one of its districts.
All the economies around the world are worried and are under great pressure due to Covid 19.