Toluene Weekly Report 8 Feb 2019

Weekly Price Trend: 04-02-2019 to 08-02-2019

• The above given graph focuses on the Toluene price trend for current week.
• This week prices remained firm and there has been rise in values past few weeks.
• By the end of the week domestic prices were assessed at Rs.52/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.52/kg for Kandla and for Mumbai ports of India.
• CFR India prices were evaluated at USD 630/MT, Increased by USD 10/MT in compare to last week’s closing values. CFR China price of toluene were assessed at the level of USD 640/MT.
• FOB Korea prices were evaluated at USD 610/MT, improved by USD 5MT in compare to previous week.
• CFR south East Asia price were evaluated at USD 650/MT. Benzene FOB Korea prices remained firm for this week. FOB Korea values were assessed around USD 600/MT. On other side CFR China prices for Benzene were assessed USD 605/MT for this week.
• Moreover the ongoing Lunar vacation in China has also slowed down the trade and trading in international market.
• International prices for Methanol for this week were assessed around USD 305/MT increased by USD 15/MT for this week. Methanol values remained flat in China market.
• Benchmark Brent oil inched up on Friday but was heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support.
• U.S. President Donald Trump said on Thursday that he did not plan to meet Chinese President Xi Jinping before a March 1 deadline set by the two countries to strike a trade deal.
• Adding to demand concerns, the European Commission sharply cut its forecasts for euro zone economic growth due to global trade tensions and an array of domestic challenges.
• Supply cuts led by the Organization of the Petroleum Exporting Countries lent support. OPEC kingpin Saudi Arabia reduced its output in January by about 400,000 barrels per day (bpd) to 10.24 million bpd, OPEC sources said.
• Another risk to supply comes from Venezuela after the implementation of U.S. sanctions against the OPEC member's petroleum industry in late January. Analysts expect this move to knock out 300,000-500,000 bpd of exports.

 $ 1 = Rs. 71.18

 Import Custom Ex. Rate USD/ INR: 72.65

 Export Custom Ex. Rate USD/ INR: 70.90