Weekly Toluene Report 30th October 2020

Weekly Price Trend: 26-10-2020 to 30-10-2020

• The above given graph focuses on the Toluene price trend for current week. Prices have increased significantly for this week.
• This week prices increase by Rs,10/Kg, which is considered as highest increase in a day in Toluene market. Prices were assessed at the level of Rs.49/Kg for Kandla and Rs.48/Kg for Mumbai port.

 Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.49/Kg for bulk quantity for Kandla and Rs.48/Kg for Mumbai port. Domestic prices remained highly volatile for this week.
• CFR India prices were evaluated at USD 460-490/MT for this week. Prices lowered by USD 35/MT in this week.
• FOB Korea values reduced by USD 50/MT for this week which is last week’s rise in prices. CFR China prices were assessed around USD 415/MT for this week. On other side there was slight decline in CFR SEA prices and were assessed around USD 430/MT for this week.
• Domestic market has been operating at high note as prices increased heavily. This hike was basically due to disruption in domestic supply. Domestic manufacturers have either shutdown their units or lowered their production in turn leading to rise in domestic values.
• The festive season in the country has arrived with positive vibes. With upcoming holiday season and Diwali holidays will add to the fresh buying for the customers. Government data are also showing improvement signs after a long overhaul due to pandemic surge in the country.
• Crude prices has been shrinking in global market since last few days. Prices had swung between parity and a more than 2 percent decline during Friday’s session as the “market is anxious” over renewed lockdowns in Europe and US elections next week.
• The Europe is facing the second wave of Corona and is going for complete lockdown. France entered a new lockdown on Friday as the resurgent coronavirus pandemic increasingly forced other countries to consider following suit, with Europe passing 10 million total infections and the United States posting a daily record of 90,000 cases.
• Europe has again become the epicentre of the pandemic, recording 40 percent more cases this week than the previous seven days, according to an AFP tally.
• India needs to be careful and alert as still the cases in India are second highest in the world. 

1$= Rs.74.10

Import Custom Ex. Rate USD/ INR: 74.25                                            

Export Custom Ex. Rate USD/ INR: 72.55