Toluene Weekly Report 8 March 2019

Weekly Price Trend: 04-03-2019 to 08-03-2019

• The above given graph focuses on the Toluene price trend for current week.
• This week prices remained soft-to stable firm and there has been decline in values. By the end of the week domestic prices were assessed at Rs.50/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.50/kg for Kandla and for Mumbai ports of India.
• CFR India prices were evaluated at USD 650/MT, increased by USD 20/MT in compare to last week’s closing value.
• CFR China price of toluene were assessed at the level of USD 670/MT, increased by USD 20/MT for this week.
• FOB Korea prices were evaluated at USD 645/MT, increased by USD 15/MT in compare to previous week.
• CFR south East Asia price were evaluated at USD 670/MT. Benzene FOB Korea prices remained soft-to-stable for this week. FOB Korea values were assessed around USD 620/MT. On other side CFR China prices for Benzene were assessed USD 625/MT for this week.
• U.S. West Texas Intermediate (WTI) crude oil futures were at $56.32 per barrel, down 34 cents, or 0.6 percent, from their last settlement.
• Brent crude oil futures were at $65.83 per barrel at 0358 GMT, down 47 cents, or 0.7 percent from their last close.
• Financial markets, including crude oil futures, took a hit after ECB President Mario Draghi said on Thursday the economy was in "a period of continued weakness and pervasive uncertainty".
• China's February dollar-denominated exports fell 21 percent from a year earlier, coming in far worse than analysts' expectations, while imports dropped 5.2 percent, official data showed on Friday.
• Russia has bagged to become the major exporter of crude to US after Venezuela sanctions. U.S. crude oil imports from Venezuela slumped to just 83,000 bpd in the week to March 1, compared to 208,000 bpd in the previous week.
• The U.S. sanctions on Venezuela have also prohibited U.S. exports of naphtha to the Latin American country which uses the product to dilute its heavy crude. SO here again Russia has came to rescue for these nations. Rosneft has carried out shipments of heavy naphtha to Venezuela expected in the next few weeks.

PLANT NEWS

Cracker shut down by Idemitsu Kosan

• Idemitsu Kosan has shut down its naphtha cracker for a maintenance turnaround. The cracker is likely to go off-stream next week and will remain off-stream for around 7-8 weeks. Unit is based at Chiba in Japan and has the production capacity of 4,10,000 mt/year.

Cracker restarted by Tosoh Corp of Japan

• Japan based Tosoh Corp has restarted its cracker after brief maintenance. Earlier the unit was shut down in 20^th February on back of technical issues. Unit is based at Yokkaichi in Japan and has the production capacity of Ethylene around 5,27,000 mt/year. 

 $ 1 = Rs. 69.91

 Import Custom Ex. Rate USD/ INR: 71.00

 Export Custom Ex. Rate USD/ INR: 69.30