Toluene Weekly Report 20 May 2017

Weekly Price Trend: 15-05-2017 to 19-05-2017

• The above given graph focuses on the Toluene price trend for current week.

• This week prices have followed up trend. By the end of the week domestic prices were assessed Rs 45/Kg for bulk quantity for Kandla and Rs.45/kg for bulk quantity for Mumbai ports of India.

Total import at various ports of India April, 2017

Above chart represent the imported quantity of Toluene for the month of April, 2017. Last month total imported quantity was assessed 26947mt. As per chart at Kandla port higher quantity has been imported while at Kolkata port imports were lesser.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market price was assessed at Rs 45/kg for Kandla and Rs. 45/kg for Mumbai ports of India.
• CFR India prices were evaluated at USD 680/mt, prices have remained firm in compares to previous week.
• CFR China price of toluene were assessed at the level of USD 645/mt.
• FOB Korea prices were evaluated at USD 625/mt prices has increasedin compare to previous week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 760/mt and USD 775/mt respectively.
• Toluene supply and demand fundamentals have been bearish sentiment. Toluene market is dubious to upward and some market players suggested to look upon the oil prices progress.
• This week overall crude oil prices have plunged with little volatility. Recent announcements by Russia and Saudi Arabia have helped oil prices to recover and several analysts have highlighted the energy sector as a potential play for investors.
• In the month of May oil prices have plunged to the lowest level on lconcerns about growing shale oil production in the US, even as OPEC and non-OPEC members have been keeping to their output cut commitments.
• Aromatic markets are totally influenced by oil prices and market players are waiting for the result of OPEC meeting on May 25, whether it agrees to extend production cuts. If it does not extend, oil price could drop. Aromatics products are dubious to get support from crude oil, as downward space still exists for oil price.
• Last week CFR India toluene prices were remained firm in the range of USD 670-690/mt, while FOB Korea prices remained at the level USD 595-615.
• The large supply availability brings pressure on toluene with bearish sentiment amid persistent weakness in demand in India and China market.
• As per market analyst, in the month of June new capacities anticipated to enter in the market and due to this market will remain bearish, demand trend also will remain stable-to-soft.
• As per recent report, Russia and Saudi Arabia announced earlier in the week that the supply cut should be extended for another nine months, into March 2018. Members of OPEC will meet next week to discuss extending the supply cut.
• However, continued rebalancing in the oil market by year-end will require the collective efforts of all oil producers to increase market stability, not only for the benefit of the

 
 $1 = Rs. 64.64          
 Import Custom Ex. Rate USD/ INR: 65.30
 Export Custom Ex. Rate USD/ INR: 63.60