Toluene Weekly Report 23 August 2019

Weekly Price Trend: 19-08-2019 to 23-08-2019

• The above given graph focuses on the Toluene price trend for current week.
• This week prices remained weak throughout this week. By end of the week prices were assessed at the level of Rs.55/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 reduced by Rs.2/Kg for bulk quantity in compare to last week’s closing values.
• CFR India prices were evaluated at USD 690/MT, increased by USD 10/MT for this week.
• CFR China price of toluene were assessed at the level of USD 680/MT, increased by USD 10/MT values for this week. On other side FOB Korea prices were evaluated at USD 660/MT, increased by USD 10/MTS for this week.
• CFR south East Asia price were evaluated at USD 685/MT, remained unchanged for this week.
• The ongoing tensions between India and neighboring state have been a matter of concern. The neighboring state has cut down its all ties with India. Although this will not have major impact on India economy.
• Benzene the major source for aromatic products has also improved for this week. FOB Korea values for Benzene were assessed around USD 670/MT, increased by USD 20/MT for this week, while CFR China prices also improved and were assessed at the level of USD 660/MT for this week.
• Oil prices have been weakening in past few days as worries about the global economy weighed and equity markets were under pressure as uncertainty over the outlook for U.S. interest rate cuts left investors on edge.
• Traders are awaiting a speech from Federal Reserve Chair Jerome Powell on Friday in Jackson Hole, Wyoming, that could indicate whether the U.S. central bank will continue to cut interest rates.
• The market will be shifting focus today to broader based macro headlines with comments out of Jackson Hole likely to be prioritized in this regard.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $55.35/bbl. Prices have decreased by 0.33/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.38/bbl in compare to last closing price and was assessed around $59.92/bbl. 

$ 1 = Rs. 71.66

Import Custom Ex. Rate USD/ INR: 71.85                                            

Export Custom Ex. Rate USD/ INR: 70.15