Weekly Toluene Report 2 October 2020
Weekly Price Trend: 28-09-2020 to 02-10-2020
- The above given graph focuses on the Toluene price trend for current week. Prices remained vulnerable throughout this week.
- This week prices have been oscillating in the range of Rs.35-36 for past one month. Prices were assessed at the level of Rs.35.5/Kg for Kandla and Rs.36/Kg for Mumbai port.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic market price was assessed at Rs.35.5/kg for bulk quantity for Kandla and Rs.36/Kg for Mumbai port. Domestic prices remained highly volatile for this week.
- CFR India prices were evaluated at USD 420-440/MT for this week. There has been no price declaration for Toluene chemical for Asian markets. Most of the Asian markets will remain close till 8th October 2020.
- Recently the government of India has given some positive notes to the Indian petrochemical industry.
- COVID-19 pandemic has given ample opportunities to the chemical and petrochemical sector to grow by restoring the business models as demand for items like sanitizers, PPE, masks have increased manifold.
- The vision of Indian PM for Atmanirbhar Bharat and the right steps in this direction will surely help the industry record a massive growth and reduce import dependence on any nation.
- The Indian government is taking major initiatives to promote Atmanirbharta in the chemical and petrochemical sector as its development will have a positive effect on allied industries.
- Most of the international market remained silent for this weekend. China has been observing the national holiday. The first week of October will remain silent in most of the north eastern region. Before holidays, the data released by China market was quite encouraging whereas rest of the Asian countries has been facing tough times.
- Chinese market will remain closed till 8th Oct on occasion of National holiday and Mid-Autumn vacations where as markets in Taiwan and South Korea will resume operations next week.
$ 1 = Rs. 73.15
Import Custom Ex. Rate USD/ INR: 74.50
Export Custom Ex. Rate USD/ INR: 72.80
