Toluene Weekly Report 25 September 2020

Weekly Price Trend: 21-09-2020 to 25-09-2020

•  The above given graph focuses on the Toluene price trend for current week. Prices remained stable throughout this week.
• This week prices have been oscillating in the range of Rs.36-37 for past one month. Prices were assessed at the level of Rs.36/Kg for Kandla and Rs.35.5/Kg for Mumbai port.

 Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.36/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 420-440/MT for this week. FOB Korea values for Toluene was assessed around USD 400-420/MT for this week. Prices reduced by USD 10/MT for this week.
• CFR China price of toluene were assessed at the level of USD 430/MT for this week
• FOB Korea values for Benzene were assessed around USD 420/MT for this week. CFR China prices were assessed at the level of USD 425/MT for this week.
• The global market is feeling the heat of pandemic and exports across the nations has dropped significantly. Singapore the energy hub in the South Asian region has witnessed the decline in exports by 16.4%.
• There has been decline in capacity utilization of Indian refineries. On an average the capacity utilization for all categories has declined to 76% which was earlier 83% in the month of August. The lowest reruns of refineries owing pandemic and lockdown imposed has led to shutdown and maintenance of refineries. The run rate was 104% in the year-ago period.
• Refineries like Indian Oil Corp's Paradip, Reliance's export-oriented unit, and Hindustan Petroleum Corp. Ltd's Vizag refinery carried out maintenance programs at a time when retail demand is low due to the COVID-19 impact.
• On Thursday closing, there was improvement in prices. WTI on NYME closed at $40.31/bbl. Prices improved by 0.38/bbl in compared to last closing prices. While Brent on Inter Continental Exchange has reduced by $0.41/bbl in compare to last closing price and was assessed around $41.94/bbl.

$ 1 = Rs. 73.61

Import Custom Ex. Rate USD/ INR: 74.60                                             

Export Custom Ex. Rate USD/ INR: 72.90