Toluene Weekly Report 20 Oct 2018
Weekly Price Trend: 15-10-2018 to 19-10-2018
- The above given graph focuses on the Toluene price trend for current week.
- This week prices have increased. By the end of the week domestic prices were assessed at Rs 69/Kg for bulk quantity for Kandla and Rs 70/kg for Mumbai ports of India.
Booking Scenario
INDIA&INTERNATIONAL
- This week domestic market price was assessed at Rs 69/kg for Kandla and Rs.70/kg for Mumbai ports of India.
- CFR India prices were evaluated at USD 865/mt, increased by USD15/MT in compare in to last week’s closing values.
- CFR China price of toluene were assessed at the level of USD 850/mt.
- FOB Korea prices were evaluated at USD 820/mt, prices increased by USD 15/MT in compare to previous week.
- CFR south East Asia price were evaluated at USD 835/mt.
- There has been significant decline in crude prices in last two weeks. Prices plunged by more than 11 % in last two weeks. Oil prices rose to nearly four-year highs at the start of October as there has been depletion in crude supply sue to US sanctions on Iran.
- Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
- The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
- The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $68.65/bbl. Prices have decreased by $1.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.76/bbl in compare to last closing price and was assessed around $79.29/bbl
$1 = Rs. 73.32
Import Custom Ex. Rate USD/ INR: 74.30
Export Custom Ex. Rate USD/ INR: 72.60
