Toluene Weekly Report 24 May 2019

Weekly Price Trend: 20-05-2019 to 24-05-2019

• The above given graph focuses on the Toluene price trend for current week.
• This week prices remained stable and by end of the week there was no change in values comparing last week prices.
• By the end of the week domestic prices were assessed at Rs.52/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.52/kg for bulk quantity, reduced by Rs.1/Kg for bulk quantity.
• CFR India prices were evaluated at USD 680/MT, reduced by USD 20/MTS for this week.
• CFR China price of toluene were assessed at the level of USD 665/MT, reduced by USD 15/MT for this week. On other side FOB Korea prices were evaluated at USD 640/MT, reduced by USD 15/MT for this week.
• CFR south East Asia price were evaluated at USD 730/MT, remained unchanged for this week.
• Benzene FOB Korea prices, this week has reduced significantly for this week. FOB values were assessed around USD 625MT reduced by USD 5/MT for this week. On other side CFR China prices for Benzene were assessed USD 610/MT, lesser by USD 10/MT for this week.
• Global Toluene market is likely to grow at a CAGRof 6.1%during forecast period of 2019-2025.
• India has officially ended all oil imports from Iran, India’s Ambassador Harsh Vardhan Shringla said on Wednesday, after Prime Minister Narendra Modi has managed to emerge victorious from India’s elections.
• Shringla was reluctant to say whether India agreed with the United States’ stance on the sanctions, but did say that the sanctions have hurt India, who relies on Iran in particular for a sizeable chunk of its crude oil. It now has had to find new sources of crude oil after the United States refused to extend the waiver India was enjoying up until May 2.
• World shares were deep in the red as concerns grew the China-US trade conflict was fast turning into a technology cold war between the world's two largest economies.
• World shares were deep in the red as concerns grew the China-US trade conflict was fast turning into a technology cold war between the world's two largest economies. 

$ 1 = Rs. 69.53

Import Custom Ex. Rate USD/ INR: 71.15                                            

Export Custom Ex. Rate USD/ INR: 69.50