Toluene Weekly Report 23rd October 2020

Weekly Price Trend: 19-10-2020 to 23-10-2020

• The above given graph focuses on the Toluene price trend for current week. Prices have returned to settle down as the week progressed.
• This week prices have been oscillating in the range of Rs.38-40/Kg. Prices were assessed at the level of Rs.38/Kg for Kandla and for Mumbai port.

 Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.38/Kg for bulk quantity for Kandla and for Mumbai port. Domestic prices remained highly volatile for this week.
• CFR India prices were evaluated at USD 495-515/MT for this week. There has been an improvement of USD 40/MT for Asian markets. There has been improvement in Asian market in Toluene prices.
• FOB Korea values increased by USD 60/MT for this week which is considered as significant rise in the values. CFR China prices were assessed around USD 400/MT for this week. On other side there was slight decline in CFR SEA prices and were assessed around USD 425/MT for this week.
• There was continuous volatility in crude values for this week. On Thursday WTI crude prices were assessed around USD 40.64/MT, increased by USD 0.61/MT and Brent was assessed at the level of USD 42.64/MT, again increased by USD 0.73/MT.
• The festive season in the country has arrived with positive vibes. With upcoming holiday season and Diwali and Eid holidays will add to the fresh buying for the customers. Government data are also showing improvement signs after a long overhaul due to pandemic surge in the country.
• With drop in the fresh cases and government announcement for funding of vaccine has elated the market and has brought fresh purchases. There has been good improvement in the automobile sector with highest recovery.
• Fresh purchase in the home appliances has improved as in Indian market it is general trend to make purchase of home appliances during Diwali. The offers in the market are also lucrative to attract more customers and improve the sell. There lies concern as Indian government has also shown concern for the same. The Health ministry has asked the citizens to maintain social distancing and to avoid social gatherings and sanitisation. 

$ 1 = Rs. 73.62

Import Custom Ex. Rate USD/ INR: 74.25                                            

Export Custom Ex. Rate USD/ INR: 72.55