Toluene Weekly Report 7 February 2020

Weekly Price Trend: 03-02-2020 to 07-02-2020

• 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 plunged and by the end of the week prices were assessed at the level of Rs.56/Kg for bulk quantity for Kandla and for Mumbai Rs.57/Kg for bulk quantity.

Booking Scenario 

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.56/kg for bulk quantity for Kandla and Rs.57/Kg for Mumbai port.
• CFR India prices were evaluated at USD 675/MT, reduced by USD 20/MT for this week. CFR China price of toluene were assessed at the level of USD 610/MT, reduced by USD 50/MT for this week while CFR SEA prices for this week were assessed around USD 660/MT.
• Benzene the major source for aromatic products also decline heavily for this week. FOB Korea values for Benzene were assessed around USD 658/MT for this week, reduced by USD 10/MT in one week while CFR China prices were assessed at the level of USD 680/MT for this week again reduced by USD10/MT for this week.
• Oil prices rose on Friday after Russia said it backs a recommendation for the OPEC and its producer allies to deepen output cuts amid contracting demand for crude as China battles the coronavirus epidemic that has hit global markets.
• A panel advising the Organization of Petroleum Exporting Countries (OPEC) and allies led by Russia, known as the OPEC+ group, suggested provisionally cutting output by 600,000 barrels per day (bpd),
• On back of global epidemic, Oil prices have fallen by more than a fifth in last two weeks.
• Chinese President Xi Jinping declared a "people's war" on the epidemic as China's Hubei province, where Wuhan is located, reported 69 new deaths, taking the total in the country to more than 600.
• The impact of the coronavirus on the oil market remains largely a Chinese demand story with weakening jet fuel demand and economic run cuts, but demand destruction outside of China has been minimal, for now," RBC Capital Markets analysts said in a note.

PLANT NEWS

Aromatic unit no2 to be restarted by Petrochemical Corporation Singapore
Petrochemical Corporation Singapore (PCS) has restarted its aromatic unit no2 after an unscheduled shutdown. Earlier the unit was shut down due to some technical issues in the last week of December. The company restarted its production last week.
Unit is based at Ayer Merbau, Jurong island of Singapore and has the production capacity of 1,68,000 mt/year of benzene, 91,000 mt/year of toluene and 64,000 mt/year of mixed xylene.
 
$ 1 = Rs. 71.46
Import Custom Ex. Rate USD/ INR: 71.65                                            
Export Custom Ex. Rate USD/ INR: 69.95