Toluene Weekly Report 29 March 2019
Weekly Price Trend: 25-03-2019 to 29-03-2019
- The above given graph focuses on the Toluene price trend for current week.
- This week prices remained soft-and there has been decline in values. 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.
- CFR India prices were evaluated at USD 680/MT, improved by USD 20/MTS for this week.
- CFR China price of toluene were assessed at the level of USD 690/MT, increased by USD 5/MT for this week. On other side FOB Korea prices were evaluated at USD 670/MT, improved by USD 20/MT for this week.
- CFR south East Asia price were evaluated at USD 710/MT.
- Benzene FOB Korea prices, on other side has declined heavily. FOB Korea values were assessed around USD 535/MT, reduced by USD 90/MT in span of one week. On other side CFR China prices for Benzene were assessed USD 545/MT for this week reduced by USD 80/MT for this week.
- There have been constant fluctuation incrude prices in international market. US has been worried for the formation of new Middle East bloc comprising of Turkey, Iran and Qatar.
- These nations are already in black list of US, now with strong connection among these countries the trigger is felt by the US government.
- There is one more thing which could derail the oil supplies of US. The quality issue with crude has been a big headache for the manufacturers. Recently two leading Korea importers have cancelled their order for crude from US. Reason behind this declining quality is that there is a massive pipeline network carrying crude oil from the U.S. shale patch to the Gulf Coast ports where it is loaded on tankers and sent to Asia, with South Korea emerging as the biggest buyer of U.S. crude so far this year.
- Yet with so many pipelines—trunks and branches—the oil gets contaminated with various undesirable things, from oil residue to heavy metals, pipe cleaning agents, and a group of compounds called oxygenates. These last ones are particularly worrying for refiners, it seems.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $59.30/bbl. Prices have decreased by $0.11/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.01/bbl in compare to last closing price and was assessed around $67.82/bbl.
PLANT NEWS
- Aromatic unit restarted by Sinopec Qilu Co after brief maintenance. The aromatic unit here manufacturers Benzene, Toluene and Mixed Xylene. Earlier the unit was shut down on 16th March 2019 for annual maintenance.
- Unit is based at Zibo in China and has the production capacity of Reformate 110,000 / 192,000 / 120,000; Disproportionate 30,000 /0/ 30,000; Py-Gas 200,000 / 90,000 / 90,000 respectively.
$ 1 = Rs. 69.21
Import Custom Ex. Rate USD/ INR: 70.00
Export Custom Ex. Rate USD/ INR: 68.35
