Toluene Weekly Report 4 October 2019

Weekly Price Trend: 30-09-2019 to 04-10-2019

• The above given graph focuses on the Toluene price trend for current week. There has been no change in values in domestic market with no change in prices for this week.
• This week prices remained soft-to-stable throughout this week. By end of the week prices were assessed at the level of 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 decreased by Rs3/Kg for bulk quantity in compare to last week’s closing values.
• CFR India prices were evaluated at USD 725/MT, with no change in values for this week.
• CFR China price of toluene were assessed at the level of USD 710/MT, remained unchanged for this week. On other side FOB Korea prices were evaluated at USD 685/MT, with no change in prices for this week.
• CFR south East Asia price were evaluated at USD 735/MT, increased by USD 20/MTS for this week.
• China is celebrating its Golden week festival next week. So most of Chinese markets are not available and will resume work from next week.
• There have been significant changes across the global market affecting the demand for petrochemicals.
• Global auto market has been at its lowest phase affecting the chemical sector associated with automobile sector.
• Global economic factor i.e. slowdown in economies, liquidity crunch and the political differences between China and US has been hampering the global trade and has been making it more polarized. The US$ has been rising due to increased uncertainty, creating currency risk for those who have borrowed in dollars; geopolitical risks are becoming more obvious.
• Chemical industry capacity utilization, the best leading indicator for the global economy, has been in decline since December 2017, leading to conclusion of recession in near future and the bankruptcies among over-leveraged firms will inevitably increase.
• On Thursday, closing crude values have mixed. WTI on NYME closed at $52.45/bbl. Prices have decreased by 0.19/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.02/bbl in compare to last closing price and was assessed around $57.71/bbl.

$ 1 = Rs. 70.96

Import Custom Ex. Rate USD/ INR: 72.15                                            

Export Custom Ex. Rate USD/ INR: 70.45