Toluene Weekly Report 29 Sep 2018

Weekly Price Trend: 24-09-2018 to 28-09-2018

• The above given graph focuses on the Toluene price trend for current week.

• This week prices have remained volatile. By the end of the week domestic prices were assessed at Rs 65.5/Kg for bulk quantity for Kandla and Rs 66/kg for Mumbai ports of India.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market price was assessed at Rs 65.5/kg for Kandla and Rs.66/kg for Mumbai ports of India.
• CFR India prices were evaluated at USD 855/mt, prices have plunged in compares to previous week.
• CFR China price of toluene were assessed at the level of USD 835/mt.
• FOB Korea prices were evaluated at USD 805/mt prices has decreased in compare to previous week.
• CFR south East Asia price were evaluated at USD 845/mt.
• Toluene inventories at ports in eastern China increased to 22,700 tonnes.
• Zhoushan Hbon Chemical restarts aromatics unit.
• According to Petrochemical giant Total, the supply disruptions and the delay time associated with OPEC’s ability to increase production could pull up the price to $100 per barrel. This in turn will hamper the economy and the oil industry.
• Disruptions in supply coming from Iran, Venezuela, and Libya give strong support to oil prices and they may head into triple-digit territory. On the other hand, although OPEC has assured to boost production, but output hasn’t increased so much. Saudi Arabia has capacity of 11 million bpd, but boosting production from current levels would need time, because they have to mobilize rigs.
• US Sanctions will surely trigger a dramatic shortfall in global supply. And the sanctions are widely expected to have an immediate impact on Iran's oil exports, although estimates of exactly how much of the country's oil could disappear from November 4 vary widely.
• Some energy market analysts expect around 500,000 barrels per day (bpd) to disappear once U.S. sanctions against Iran come into force, while others have warned as much as 2 million bpd could come offline over the coming months.

 
$1 = Rs. 72.48
 Import Custom Ex. Rate USD/ INR: 73.95
 Export Custom Ex. Rate USD/ INR: 71.65