Toluene Weekly Report 20 September 2019 20 Sep 19, 03:37 pm

Toluene Weekly Report 20 September 2019

Weekly Price Trend: 16-09-2019 to 20-09-2019

The above given graph focuses on the Toluene price trend for current week. There has been rise in domestic prices on back of rise in crude values in international market.
This week prices remained weak throughout this week. By end of the week prices were assessed at the level of Rs.58/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.55/kg for bulk quantity remained reduced by Rs2/Kg for bulk quantity in compare to last week’s closing values.
CFR India prices were evaluated at USD 725/MT, increased by USD 20/MT for this week.
CFR China price of toluene were assessed at the level of USD 689/MT, remained unchanged for this week. On other side FOB Korea prices were evaluated at USD 665/MT, increased by USD 20/MTS for this week.
CFR south East Asia price were evaluated at USD 710/MT, increased by USD 25/MTS for this week.
Benzene the major source for aromatic products has also improved for this week. FOB Korea values for Benzene were assessed around USD 720/MT, increased by USD 20/MT for this week, while CFR China prices also improved and were assessed at the level of USD 735/MT for this week.
Oil prices rose sharply on Thursday, supported by supply risks as the market assesses the fallout from last weekend's drone attacks on Saudi oil infrastructure.
The attacks knocked out around half of Saudi Arabia's crude production and severely limited the country's spare capacity, a cushion for oil markets in any unplanned outage.
"Global available spare capacity is extremely low at present following the weekend attacks, leaving little room for additional outages, which tends to be price supportive," UBS oil analyst Giovanni Staunovo said.
Earlier this week Saudi Arabia set out a timeline for a resumption of full operations, saying it had restored supplies to customers at levels prior to the attacks by drawing from its oil inventories.
It said it would restore its lost production by the end of this month, and bring its output capacity back to 12 million barrels per day by the end of November.
"These plans suggest Saudi Arabia will have no spare capacity for at least the next two and a half months and therefore no way to absorb any further shocks," consultancy Energy Aspects said.
Saudi Arabia, the world's leading oil exporter, has said the crippling attack on its oil sites was "unquestionably sponsored" by regional rival Iran.