Toluene Weekly Report 7 June 2019
Weekly Price Trend: 03-06-2019 to 07-06-2019
- The above given graph focuses on the Toluene price trend for current week.
- This week prices has reduced significantly and by end of the week prices were reduced by Rs.3/Kg in compare to last week’s closing values.
- By the end of the week domestic prices were assessed at Rs.49/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.49/kg for bulk quantity, reduced by Rs.3/Kg for bulk quantity.
- CFR India prices were evaluated at USD 615/MT, reduced by USD 30/MTS for this week.
- CFR China price of toluene were assessed at the level of USD 650/MT, reduced by USD 35/MT for this week. On other side FOB Korea prices were evaluated at USD 685/MT, reduced by USD 35/MT for this week.
- CFR south East Asia price were evaluated at USD 650/MT, reduced by USD 35/MT for this week.
- Benzene the major source for aromatic products has also reduced for this week FOB Korea values for Benzene were assessed around USD 605/MT, reduced by USD 30/MT for this week. CFR China prices have also witnessed a heavy decline in prices. Prices were assessed in the range of USD 600/MT. Moreover China market will remain close for next three days due to Dragon boat festival.
- Crude prices has seen significant rise in prices in this week, a rise highest in last five months. This rise has been well supported by a report that Washington could postpone trade tariffs on Mexico and signs OPEC and other producers may extend crude supply cuts.
- On Wednesday, Brent and WTI sank to their lowest levels since mid-January at $59.45 and $50.60 respectively, after US crude production hit a new record-high and stockpiles climbed to their highest since July 2017. But on Thursday oil prices followed US stocks higher after reports confirmed that the United States is considering a delay in the tariffs on Mexico as talks continue.
- Prices had been supported by supply curbs by the Organization of the Petroleum Exporting Countries (OPEC) and some allies including Russia. Supply has also been limited by US sanctions on oil exports from Iran and Venezuela.
- On Thursday day, closing crude values have increased. WTI on NYME closed at $52.69/bbl. Prices have increased by 0.91/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.04/bbl in compare to last closing price and was assessed around $61.67/bbl.
$ 1 = Rs. 69.47
Import Custom Ex. Rate USD/ INR: 70.30
Export Custom Ex. Rate USD/ INR: 68.60
