Weekly Toluene Report 27th November 2020

                                                        Weekly Price Trend: 23-11-2020 to 27-11-2020

• Domestic prices remained highly vulnerable in Indian domestic market. By end of the week prices were assessed the level of Rs.48/Kg for this week.
• By end of this week prices were assessed at the level of Rs.48/Kg, for both the ports. Prices have been floating in the range of Rs.48-49/kg for this week.

Booking Scenario

 INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.48/Kg for bulk quantity for Kandla and for Mumbai port. Domestic prices soft-to-stable for this week.
• CFR India prices were evaluated at USD 525-545/MT for this week. Prices increased by USD 40/MTS for this week.
• FOB Korea values were assessed in the range of USD 460-480/MT, increased by USD 42/MT for this week.
• CFR China values were assessed in the range of USD 445-465/MT. On other side CFR SEA prices were assessed in the range of 465/MT.
• Domestic prices of Toluene were assessed at the level of Rs.48/Kg for this week.
• There has been increase in Benzene prices for this week. FOB Korea Benzene values were assessed around USD 585/MT for this week. CFR China prices were assessed around USD 445/MT for this week.
• Indian markets are anxiously waiting for the vaccine. This week three major manufacturers have announced their vaccine efficacy so all are waiting for this vaccine. The Covid is nowhere settling in Indian cities. Major cities have announced curfew in night hours to control the pandemic.
• The Indian Prime Minister is expected to make a major announcement in a day or two regarding this pandemic vaccination. However, government has intimated all its efforts to boost the economy.
• WTI was down by 69 cents, or 1.5%, at $45.02 by 0104 GMT. U.S. crude prices did not settle on Thursday due to the holiday. Brent crude was up by 9 cents at $47.89, having fallen 1.7% overnight.
• Both benchmarks have risen about 6% this week, after AstraZeneca earlier announced that its Covid-19 vaccine could be up to 90% effective, adding to successful trial results of two others under development in the fight to end the worst pandemic in a century.But questions have been raised over the so-called “vaccine for the world” as several scientists have sounded doubts over how robust the results of the trials were.

$ 1 = Rs. 74.05

Import Custom Ex. Rate USD/ INR: 75.20                                            

Export Custom Ex. Rate USD/ INR: 73.50