Toluene Weekly Report 22 Sep 2018

Weekly Price Trend: 17-09-2018 to 21-09-2018

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

• This week prices have remained volatile. By the end of the week domestic prices were assessed at Rs 66/Kg for bulk quantity for Kandla and Rs 67.5/kg for Mumbai ports of India.

Total import at various ports of India August, 2018

Above graph represents the imported quantity of Toluene for the month of August. Last month total imports were around 38722MT.

Booking Scenario

 
INDIA&INTERNATIONAL

• This week domestic market price was assessed at Rs 66/kg for Kandla and Rs.67/kg for Mumbai ports of India.
• CFR India prices were evaluated at USD 880/mt, prices have remained firm in compares to previous week.
• CFR China price of toluene were assessed at the level of USD 835/mt.
• FOB Korea prices were evaluated at USD 810/mt prices has decreased in compare to previous week.
• CFR south East Asia price were evaluated at USD 870/mt.
• China's Shanghai SECCO to shut aromatics plant.
• Toluene prices are probable to go down in India from the beginning of November 2018, due to falling prices of the aromatic in Asian markets.
• Export price of Toluene in South Korea has declined to USD 820/mt   
• Aromatic demand is also not likely to strengthen as off-takes from the paint industry will go down during the winter season.
• However, presently people have turned toward non-VOC paints and adhesives due to the detrimental effects of toluene. This increasing awareness among people and availability of a safer option can prevent the toluene market from reaching its full potential.
• On account of slowdown in demand and lesser prices of material traders preferred to maintain lesser inventory. Market players said that Toluene producers expected to lower their ex-work prices in the coming days to maintain import price parity.
• Crude prices are making new heights. On Thursday prices slightly eased with US president urging OPEC to bring prices down. Experts believe that Brent will soon cross the mark of USD 80 after gap of four years. US President would least want the crude prices to go high with mid election in next few months.
• The Iranian sanctions are making hard for the Asian countries which are the consumers of Iranian crude. Many buyers have already cut Iranian purchases ahead of the new regulations. It is unclear whether producers such as Saudi Arabia, Iraq and Russia can compensate for lost supply.
• The Organization of the Petroleum Exporting Countries and other producers, including Russia, meet on Sunday in Algeria to discuss how to allocate supply increases to offset the loss of Iranian barrels.

$1 = Rs. 72.19
 Import Custom Ex. Rate USD/ INR: 73.95
 Export Custom Ex. Rate USD/ INR: 71.65