Toluene Weekly Report 31 January 2020
Weekly Price Trend: 27-01-2020 to 31-01-2020
- The above given graph focuses on the Toluene price trend for current week. There has been firmness in the prices for this week.
- This week prices remained variable and firm for most of the week. By end of the week prices were assessed at the level of Rs.58/Kg for bulk quantity for Kandla and for Mumbai Rs.59/Kg for bulk quantity.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic market price was assessed at Rs.58/kg for bulk quantity for Kandla and Rs.59/Kg for Mumbai port.
- CFR India prices were evaluated at USD 695/MT, reduced by UAS 20/MT for this week. CFR China price of toluene were assessed at the level of USD 645/MT, reduced by USD 30/MT for this week while CFR SEA prices for this week were assessed around USD 725/MT.
- Benzene the major source for aromatic products also decline heavily for this week. FOB Korea values for Benzene were assessed around USD 675/MT for this week, reduced by USD 50/MT in one week while CFR China prices were assessed at the level of USD 690/MT for this week again reduced by USD50/MT for this week.
- Crude oil prices on Friday rose by Rs 81 to Rs 3,804 per barrel as speculators created fresh positions amid positive global trends. Analysts said raising of bets by participants kept crude prices higher in futures trade here. The flow of oil travelling from Latin America to China has stopped in the wake of the deadly outbreak of the coronavirus that has sunk oil prices to three-month lows, with no oil making its way from Brazil or Colombia to China since last week,
- Chinese refineries are responsible for taking one-third of all oil from Brazil, Colombia, and other Latin American countries.
- The demand for jet fuel and gasoline stemming from travel restrictions that have been put in place in an effort to stop the virus from spreading is expected to fall sharply, which will inevitably catch up to the refineries who are expected to cut back production at some point.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $52.14/bbl. Prices have decreased by 1.19/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 1.52/bbl in compare to last closing price and was assessed around $58.29/bbl.
PLANT NEWS
Aromatic unit no2 to be restarted by Petrochemical Corporation Singapore
Petrochemical Corporation Singapore (PCS) has restarted its aromatic unit no2 after an unscheduled shutdown. Earlier the unit was shut down due to some technical issues in the last week of December. The company restarted its production last week.
Unit is based at Ayer Merbau, Jurong island of Singapore and has the production capacity of 1,68,000 mt/year of benzene, 91,000 mt/year of toluene and 64,000 mt/year of mixed xylene.
$ 1 = Rs. 71.34
Import Custom Ex. Rate USD/ INR: 71.65
Export Custom Ex. Rate USD/ INR: 69.95
