Weekly Toluene Report 15th January 2021

Weekly Price Trend: 11-01-2021 to 15-01-2021

• Domestic prices remained firm for this week. As the week proceeded further prices remained flat throughout the week.
• By end of the week prices were assessed the level of Rs.49/Kg for Kandla port and for Mumbai port.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.49/Kg for bulk quantity for Kandla and for Mumbai port. Domestic prices have improved by Rs.3/Kg for this week.
• CFR India prices were evaluated at USD 630-650/MT for this week. Prices increased by USD 20/MT for this week.
• FOB Korea values for Toluene was assessed around USD 550/MT for this week. Prices has improved slightly for this week.
• CFR China prices were assessed around USD 535/MT on Friday closing.
• CFR SEA prices were assessed around USD 530/MT for this week.
• FOB Korea values for Benzene were assessed in the range of USD 655/MT, reduced by USD 17/MT in last two weeks. CFR China values for Benzene were assessed around USD 640/MT.
• Strong moves have been observed in the key crude oil benchmarks-WTI, and Brent, in the last several months. This was initiated by the advent of positive news on the Covid front that the vaccines in development were extremely efficacious, promising an endpoint to the spread of the virus.
• Many countries have imposed fresh lockdown amid scare of new corona strain. In spite of these issues the demand trend is likely to remain positive. As implementation of vaccine has increased, experts believe that business activity will resume creating demand for petroleum products.
• Oil exploration and production companies like Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) are not expecting this price recovery to be the last moment shot-in-the-arm to salvage the difficult 2020-2021.

$ 1 = Rs. 73.07

Import Custom Ex. Rate USD/ INR: 74.00                                            

Export Custom Ex. Rate USD/ INR: 72.30