Toluene Weekly Report 5 July 2019
Weekly Price Trend: 01-07-2019 to 05-07-2019
- The above given graph focuses on the Toluene price trend for current week.
- This week prices has improved slightly and by end of the week prices were increased by Rs.4/Kg in compare to last week’s closing values and 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, increased by Rs.3/Kg for bulk quantity.
- CFR India prices were evaluated at USD 670/MT, increased by USD 15/MTS for this week.
- CFR China price of toluene were assessed at the level of USD 670/MT, increased by USD 20/MT for this week. On other side FOB Korea prices were evaluated at USD 640/MT, increased by USD 15/MT for this week.
- CFR south East Asia price were evaluated at USD 655/MT, increased by USD 5/MT for this week.
- Benzene the major source for aromatic products has also increased significantly for this week. FOB Korea values for Benzene were assessed around USD 655/MT, while CFR China prices also increased and were assessed at the level of USD 655/MT for this week.
- Market will react more aggressively in India as today first budget has been declared by the new government. The implication of budget on petrochemical segment will be visible on Monday.
- Crude oil prices fell on Friday on weak economic indicators from the United States and Germany, shrugging off tensions around Iran and this week's decision by OPEC and its allies to extend a supply cut deal until next year.
- Oil prices eased lower on Friday morning as concerns over global economic growth offset escalating geopolitical tensions in the Middle East
- Weak industrial demand gave a bearish signal for oil demand. Global growth remains the main factor holding back crude prices," said Alfonso Esparza, senior analyst at OANDA. The OPEC+ deal will keep prices from falling too hard, but there must be an end to trade protectionism to assure the demand for energy products recovers.
- On Thursday day, closing crude values have remained same. WTI on NYME closed at $57.34/bbl. Prices have remained same in compared to last closing prices. While Brent on Inter Continental Exchange have remained same in compare to last closing price and was assessed around $63.82/bbl.
$ 1 = Rs. 68.42
Import Custom Ex. Rate USD/ INR: 69.75
Export Custom Ex. Rate USD/ INR: 68.05
