Toluene Weekly Report 30 August 2019 31 Aug 19, 11:59 am

Toluene Weekly Report 30 August 2019

Weekly Price Trend: 26-08-2019 to 30-08-2019

The above given graph focuses on the Toluene price trend for current week.
This week prices remained weak throughout this week. By end of the week prices were assessed at the level of Rs.56/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.56/kg for bulk quantity slightly improved by Rs.1/Kg for bulk quantity in compare to last week’s closing values.
CFR India prices were evaluated at USD 680/MT, reduced by USD 10/MT for this week.
CFR China price of toluene were assessed at the level of USD 677/MT, reduced by USD 3/MT values for this week. On other side FOB Korea prices were evaluated at USD 690/MT, decreased by USD 10/MTS for this week.
CFR south East Asia price were evaluated at USD 680/MT, reduced by USD 5/MT for this week.
The ongoing tensions between India and neighboring state have been a matter of concern. The neighboring state has cut down its all ties with India. Although this will not have major impact on India economy.
Benzene the major source for aromatic products has also improved for this week. FOB Korea values for Benzene were assessed around USD 680/MT, increased by USD 10/MT for this week, while CFR China prices also improved and were assessed at the level of USD 675/MT for this week.
Crude oil futures fell 0.15 per cent to Rs 4,036 per barrel on Friday after participants reduced positions amid a weak trend in global markets. Marketmen said the fall in crude oil futures was mostly due to trimming of positions by traders in tandem with a weak trend overseas.
Meanwhile, West Texas Intermediate crude oil was trading down 0.90 per cent to USD 56.20. Brent Crude, the international benchmark, fell 0.61 per cent to trade at USD 60.71 a barrel.
China's surprise decision to include crude oil in its latest round of tariffs on imports from the US is unlikely to restrict the overall US-Asia crude trade flows as various other Asian buyers are keen to pick up any US crude cargoes diverted from Chinese buyers.
However, US crude oil suppliers are expected to largely shrug off the latest counter measures from Asia's biggest oil consumer as demand for the US product remains robust in the region.
US crude oil has increasingly become a staple for many Asian refineries, with the sharp increase in US crude procurement from refiners in South Korea, Taiwan, India and Thailand more than making up for the cut back in China's purchases this year.