Toluene Weekly Report 5 June 2020
Weekly Price Trend: 01-06-2020 to 05-06-2020
- The above given graph focuses on the Toluene price trend for current week. There has been rise in the prices for this week.
- This week prices increased lightly for this week. Prices were assessed at the level of Rs.35/Kg for Kandla and for Mumbai port. Prices were improved by Rs.1/Kg for this week for bulk quantity.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic market price was assessed at Rs.36/kg for bulk quantity for Kandla and for Mumbai port. Domestic prices increased slightly for this week.
- CFR India prices were evaluated at USD 400-420/MT for this week. FOB Korea values for Toluene was assessed around USD 390-410/MT for this week. There has been slight rise of USD 10/MT throughout this week in the international for Toluene.
- CFR China price of toluene were assessed at the level of USD 430/MT for this week. While CFR SEA prices for this week were assessed around USD 410/MT.
- FOB Korea values for Benzene were assessed around USD 418/MT for this week. There has been increase of USD 13/MT in Benzene values for this week. The outbreak in prices of crude has affected whole of the petrochemical market. CFR China prices were assessed at the level of USD 425/MT for this week.
- There has been heavy fluctuation in the prices for petrochemical product. Trade operations have resumed last week but the manufacturing industries are yet to start their production. Majority of labors migrated to their natives leaving behind empty units and derailed production line.
- There has been continuous rise in fresh cases in India and highest in Maharashtra and Gujarat. People are scared and worried to move out. The economy has now reached its low levels and people have to start living with Covid 19.
- Oil prices relaxed slightly today as market are looking forward to see whether major oil producers are ready to extend record production cuts. But now this meeting has been delayed due to poor compliance by some producers.
- The meeting that will help shape the future of the oil market over the next few months is proving difficult, however, even though it would appear that Saudi Arabia and Russia have reached an agreement in principle to extend the current level of cuts through the end of July.
- On Thursday, closing crude values have increased. WTI on NYME closed at $37.41/bbl. Prices have increased by 0.12/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.20/bbl in compare to last closing price and was assessed around $39.99/bbl.
$ 1 = Rs. 75.58
Import Custom Ex. Rate USD/ INR: 76.45
Export Custom Ex. Rate USD/ INR: 74.75
