Toluene Weekly Report 6 March 2020
Weekly Price Trend: 02-03-2020 to 06-03-2020
- The above given graph focuses on the Toluene price trend for current week. There has been plunge in the prices for this week.
- This week prices reduced heavily for this week. Prices were assessed at the level of Rs.52/Kg for Kandla and Mumbai port. Prices were reduced by Rs.1.5/Kg for this week for bulk quantity.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic market price was assessed at Rs.52/kg for bulk quantity for Kandla and for Mumbai port. Domestic prices reduced significantly for this week.
- CFR India prices were evaluated at USD 635/MT, reduced by USD 15/MT for this week. CFR China price of toluene were assessed at the level of USD 555/MT, reduced by USD 15/MT for this week. While CFR SEA prices for this week were assessed around USD 610/MT.
- Benzene the major source for aromatic products has slightly reduced for this week. FOB Korea values for Benzene were assessed around USD 630/MT for this week, reduced by USD 5/MTS for this week while CFR China prices were assessed at the level of USD 640/MT for this week again reduced by USD5/MT for this week.
- There have been many fresh cases of Corona in India and South Asian countries. The rise in cases has been serious concern for these nations. To curtail this epidemic government has been taking strict actions like sealing of borders, health checkups at airports, curtail in imports from the affected nations like China and Iran. This all measures across the world has been hitting hard the global economy.
- Oil slid on Friday as worries about demand for fuel being sapped by the global coronavirus outbreak were heightened by concern over non-Opec crude producers not yet having agreed to cut output further to support prices.
- The Organization of the Petroleum Exporting Countries (Opec) on Thursday pushed for crude output by Opec and associated producers - a group known as Opec plus - to be cut by an extra 1.5 million barrels per day (bpd) in total until the end of 2020. The call came ahead of an Opec plus meeting scheduled for Friday in Vienna.
- Non-Opec states were expected to contribute 500,000 bpd to the overall extra cut, Opec ministers said. But Russia and Kazakhstan, both members of Opec plus, said they had not yet agreed to the deeper cut, raising the risk of a collapse in cooperation that has propped up crude prices since 2016. Some analysts expected Moscow to ultimately endorse the agreement.
$ 1 = Rs. 73.67
Import Custom Ex. Rate USD/ INR: 74.25
Export Custom Ex. Rate USD/ INR: 72.55
