Toluene Weekly Report 8 November 2019
Weekly Price Trend: 04-11-2019 to 08-11-2019
- The above given graph focuses on the Toluene price trend for current week. There has been no change in prices for this week.
- This week prices remained soft-to-stable throughout this week. By end of the week prices were assessed at the level of Rs.54/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.54/kg for bulk quantity remained unchanged for this week.
- CFR India prices were evaluated at USD 680/MT, increased by USD 17/MT for this week.
- CFR China price of toluene were assessed at the level of USD 648/MT, remained unchanged for this week.
- Benzene the major source for aromatic products also remained unchanged for this week. FOB Korea values for Benzene were assessed around USD 625/MT for this week, while CFR China prices were assessed at the level of USD 645/MT for this week.
- Crude prices have been under pressure as uncertainties around the 16-month long trade war between the United States and China exhausted the demand prospects for oil. No concrete outcome of the prolonged trade and tariff spat continue to undermine the demand prospects for Crude and push the prices lower.
- Weak economic data from China and U.S. amid fading optimism over a possible trade deal between U.S. & China might weigh on the prices.
- Moreover, rising U.S. Crude inventory levels might further weigh on the prices. On the MCX, oil prices are expected to trade lower today; international markets are trading lower by 0.12 percent at $56.28 per barrel.
- On Thursday, closing crude values have increased. WTI on NYME closed at $57.15/bbl. Prices have increased by 0.80/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.55/bbl in compare to last closing price and was assessed around $62.29/bbl.
$ 1 = Rs. 71.24
Import Custom Ex. Rate USD/ INR: 72.00
Export Custom Ex. Rate USD/ INR: 70.30
