Toluene Weekly Report 29 November 2019

 Weekly Price Trend: 25-11-2019 to 29-11-2019

• The above given graph focuses on the Toluene price trend for current week. There has been improvement in prices for this week.
• This week prices remained firm and stable for most of the 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.57/kg for bulk quantity with a decrease of Rs.1/Kg for this week.
• CFR India prices were evaluated at USD 700/MT, slightly increased by USD 5/MT in international prices for this week.
• CFR China price of toluene were assessed at the level of USD 668/MT, remained slightly improved for this week.CFR SEA prices for this week were assessed around USD 695/MT.
• Benzene the major source for aromatic products also increased for this week. FOB Korea values for Benzene were assessed around USD 657/MT for this week, while CFR China prices were assessed at the level of USD 665/MT for this week.
• Crude oil prices on Thursday gained Rs 5 at Rs 4,132 per barrel as speculators created fresh positions amid positive trend in spot market.
• Analysts said raising of bets by participants kept crude prices higher in futures trade.
• On the Multi Commodity Exchange, crude for delivery in December traded higher by Rs 5, 0.12 per cent, to Rs 4,132 per barrel in 25,895 lots.
• Refineries across the United States have reduced their total crude oil processing so far in 2019, as demand for oil products both in America and abroad have weakened.
• There has been slowdown in demand at home and weakening demand abroad, and amid a fuel glut in Asia, refiners in the U.S. have processed lower volumes of crude oil so far this year. The cutting of rates has helped refiners avoid a fuel glut domestically, but lower processing rates have built an oversupply in crude, Kemp notes.

$ 1 = Rs. 71.74

Import Custom Ex. Rate USD/ INR: 72.75                                            

Export Custom Ex. Rate USD/ INR: 71.05