Toluene Weekly Report 27 September 2019 27 Sep 19, 04:29 pm

Toluene Weekly Report 27 September 2019

Weekly Price Trend: 23-09-2019 to 27-09-2019

The above given graph focuses on the Toluene price trend for current week. There has been rise in domestic prices on back of rise in crude values in international market.
This week prices remained weak throughout this week. By end of the week prices were assessed at the level of Rs.57/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.58/kg for bulk quantity increased by Rs3/Kg for bulk quantity in compare to last week’s closing values.
CFR India prices were evaluated at USD 725/MT, with no change in values for this week.
CFR China price of toluene were assessed at the level of USD 710/MT, remained unchanged for this week. On other side FOB Korea prices were evaluated at USD 685/MT, with no change in prices for this week.
CFR south East Asia price were evaluated at USD 735/MT, increased by USD 20/MTS for this week.
China will be celebrating its Golden week festival next week. So prior to this most of Chinese markets are in mood to wind up their activities and to make fresh deals only after mini vacation.
The major manufacturers will be opting for either shutdown or , cutbacks and restricted highway transportation. Overall there will be completed silence from China market and very limited enquiries will be heard for next week.
Benzene the major source for aromatic products also remained unchanged for this week. FOB Korea values for Benzene were assessed around USD 720/MT for this week, while CFR China prices were assessed at the level of USD 730/MT for this week.
Oil prices fell on Friday, erasing more of the gains realized after the Sept. 14 attacks on Saudi Arabian oil facilities, as the rapid return of production capacity from the world’s top exporter squashed risk premiums.
For most of the week the market has been trading lower as oil bulls have been discouraged by the quicker-than-expected return of Saudi oil output.
Saudi Arabia had brought its production capacity back to 11.3 million barrels per day (bpd) less than two weeks after the attacks on it oil facilities, sources briefed on the matter told Reuters this week.
The attacks, which knocked out 5.7 million bpd of production, initially sent oil prices up 20% although they dropped soon after as the kingdom pledged to bring back output by the end of September.