Toluene Weekly Report 24 January 2020
Weekly Price Trend: 20-01-2020 to 24-01-2020
- The above given graph focuses on the Toluene price trend for current week. There has been decline in prices for this week.
- This week prices remained variable and firm for most of the week. By end of the week prices were assessed at the level of Rs.59/Kg for bulk quantity for Kandla and for Mumbai Rs.60/Kg for bulk quantity.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic market price was assessed at Rs.59/kg for bulk quantity for Kandla and Rs.60/Kg for Mumbai port.
- CFR India prices were evaluated at USD 715/MT, reduced by UAS 15/MT for this week. CFR China price of toluene were assessed at the level of USD 675/MT, reduced by USD 15/MT for this week while CFR SEA prices for this week were assessed around USD 725/MT.
- Benzene the major source for aromatic products also remained stable with no change in prices for this week. FOB Korea values for Benzene were assessed around USD 725/MT for this week, while CFR China prices were assessed at the level of USD 740/MT for this week.
- The negative reports related to spreading of life threatening disease in China have affected the commute of people across the country. Earlier people were all set to start their Lunar vacation aiming for different tourist destinations. Now with epidemic spread and locking down of major cities, people are restricted to stay at their home and avoid any public gathering
- Oil prices on Friday, following a drawdown in US crude stocks, but were set to fall heavily for the week amid worries that a new coronavirus in China that has killed 25 so far may spread, curbing travel, fuel demand and economic prospects.
- Brent crude futures were up 31 cents, or 0.5 per cent, at $62.35 a barrel by 0741 GMT after falling 1.9 per cent the previous session. For the week, Brent is down about 4 per cent.
- The virus has infected more than 800 so far in China, with 25 dead as of Thursday, according to China's National Health Commission. The World Health Organisation has declared the situation an emergency, but stopped short of declaring the epidemic of international concern.
- Most of the cases are in the central Chinese city of Wuhan, where the virus is believed to have originated late last year, though cases have now been found in at least seven other countries. Oil prices could remain on a slippery slope as traders remain incredibly twitchy about the effects the coronavirus outbreak could have on Chinese GDP and air travel more broadl
PLANT NEWS
Aromatic unit no2 to be restarted by Petrochemical Corporation Singapore
Petrochemical Corporation Singapore (PCS) has restarted its aromatic unit no2 after an unscheduled shutdown. Earlier the unit was shut down due to some technical issues in the last week of December. The company restarted its production last week.
Unit is based at Ayer Merbau, Jurong island of Singapore and has the production capacity of 1,68,000 mt/year of benzene, 91,000 mt/year of toluene and 64,000 mt/year of mixed xylene.
$ 1 = Rs. 71.32
Import Custom Ex. Rate USD/ INR: 71.65
Export Custom Ex. Rate USD/ INR: 69.95
