Toluene Weekly Report 3 May 2019

Weekly Price Trend: 29-04-2019 to 03-05-2019

• The above given graph focuses on the Toluene price trend for current week.
• This week prices remained stable and by end of the week there was no change in values comparing last week prices.
• By the end of the week domestic prices were assessed at Rs.55/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.55/kg for bulk quantity, increased by Rs.1/Kg for bulk quantity.
• CFR India prices were evaluated at USD 700/MT, reduced by USD 25/MTS for this week.
• CFR China price of toluene were assessed at the level of USD 730/MT, reduced by USD 5/MT for this week. On other side FOB Korea prices were evaluated at USD 685/MT, reduced by USD 30/MT for this week.
• CFR south East Asia price were evaluated at USD 730/MT, reduced by 20/MT for this week
• Benzene FOB Korea prices, this week has reduced significantly for this week. FOB values were assessed around USD 625/MT reduced by USD 20/MT for this week. On other side CFR China prices for Benzene were assessed USD 625/MT, lesser by USD 10/MT for this week.
• The election period going in the country has been major factor affecting the sentiments for Indian economy. Traders are in mood to know first about the government to take lead and then make any fresh position in the market.
• The chaos in Venezuela and plunge in the oil production is matter of great concern. The country has lost its stability and has been completely bankrupt. This in turn has led to decline in oil production. US has been forcing rest of the nations to corner Venezuela andstop taking any kind of fuel.
• Similarly with Iran the sanctions have been completely imposed with no mare waiver options. To this situation the supply has been curtailed from two major oil producing countries. But on contrary oil prices has lowered down due to ever increasing oil inventories in USD.
• Crude prices have lowered for this week. On Thursday day, closing crude values have decreased. WTI on NYME closed at $61.81/bbl. Prices have decreased by 1.79/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.43/bbl in compare to last closing price and was assessed around $70.75/bbl.

$ 1 = Rs. 69.21

Import Custom Ex. Rate USD/ INR: 70.45

Export Custom Ex. Rate USD/ INR: 68.80