Toluene Weekly Report 25 Jan 2019
Weekly Price Trend: 21-01-2019 to 25-01-2019
- The above given graph focuses on the Toluene price trend for current week
- This week prices remained firm and there has been rise in values past few weeks.
- 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 Kandla and for Mumbai ports of India.
- CFR India prices were evaluated at USD 620/MT, increased by USD 10/MT in compare to last week’s closing values. CFR China price of toluene were assessed at the level of USD 610/MT.
- FOB Korea prices were evaluated at USD 585/MT, improved by USD 10/MT in compare to previous week.
- CFR south East Asia price were evaluated at USD 615/MT. Benzene FOB Korea prices remained firm for this week. FOB Korea values were assessed around USD 560/MT. On other side CFR China prices for Benzene were assessed USD 585/MT for this week.
- Toluene prices are likely to see great swing in its values. The world’s no two economy China, after US is likely to witness oversupply of the chemical. The supply is so high that intense pressure will plunge the Toluene values.
- Toluene is heavily used in Gasoline blending sector. The blending market regardless floats on global crude valuations and if the world's economy were to slow down, oil prices will be hit.
- Crude has been on toes as US/China continues to worry the world and on other side there has been heavy production of crude from US.
- These global worries are having an adverse impact on the world economic growth. On Thursday, closing crude values have increased. WTI on NYME closed at $53.13/bbl. Prices have increased by $0.51/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.05/bbl in compare to last closing price and was assessed around $61.09/bbl.
$1 = Rs. 71.16
Import Custom Ex. Rate USD/ INR: 72.10
Export Custom Ex. Rate USD/ INR: 70.40
