Toluene Weekly Report 7 Dec 2018

Weekly Price Trend: 03-12-2018 to 07-12-2018

• The above given graph focuses on the Toluene price trend for current week.
• This week prices have decreased. By the end of the week domestic prices were assessed at Rs 54/Kg for bulk quantity for Kandla and Rs 53/kg for Mumbai ports of India. 

Booking Scenario

INDIA&INTERNATIONAL 

• This week domestic market price was assessed at Rs 55/kg for Kandla and Rs.54/kg for Mumbai ports of India.
• CFR India prices were evaluated at USD 630/mt, decreased by USD20/MT in compare in to last week’s closing values. CFR China price of toluene were assessed at the level of USD 650/mt.
• FOB Korea prices were evaluated at USD 590/mt, remained unchanged in compare to previous week.
• CFR south East Asia price were evaluated at USD 670/mt. Benzene FOB Korea prices declined by more than USD 15/MT in this week. FOB Korea values were assessed around USD 640/MT. On other side CFR China prices remained stable for this week.
• Crude market has remained vulnerable throughout this week.  There has been significant decline in olefins prices and aromatic products in this week. The constant decline in crude values has plummeted the immediate prices for Benzene and Toluene and Styrene. Crude oil prices fell steeply this year from 4 October, helping to push naphtha costs lower and putting pressure on prices downstream. In last one month Toluene prices has reduced by more than 20% and is likely to remain weak in this week as well.
• Market is looking forward for China and US trade war. Oil prices fell on Friday as Opec discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board.  International Brent crude oil futures fell below $60 per barrel, trading at $59.53 per barrel at 0750 GMT, down 53 cents, or 0.9 per cent from their last close. 
• On other side India has signed an agreement with Iran to pay for crude oil t imports from the Persian Gulf nation in rupees, Under US sanctions, India can export foodgrains, medicines and medical devices to Iran. India had won the exemption after it agreed to cut imports maximum of 300,000 barrels a day of crude oil. This compares to an average daily import of about 560,000 barrels this year.

 $1 = Rs. 70.77

 Import Custom Ex. Rate USD/ INR: 71.75

 Export Custom Ex. Rate USD/ INR: 70.05