Weekly Toluene Report 4th December 2020

                                  Weekly Price Trend: 30-11-2020 to 04-12-2020

• Domestic prices remained highly vulnerable in Indian domestic market. By end of the week prices were assessed the level of Rs.50/Kg for this week.
• By end of this week prices were assessed at the level of Rs.50/Kg, for both the ports. Prices have been floating in the range of Rs.49-50/kg for this week.

 Booking Scenario

 INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.50/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 515-535/MT for this week. Prices slightly reduced by USD 10/MT for this week.
• FOB Korea values were assessed in the range of USD 445-465/MT, reduced by USD 15/MT for this week. Earlier there was continuous rise in Toluene prices due to strengthening of Benzene and crude prices.
• CFR China values were assessed in the range of USD 475/MT. On other side CFR SEA prices were assessed in the range of 490/MT.
• Domestic prices of Toluene were assessed at the level of Rs.50/Kg for this week.
• There has been increase in Benzene prices for this week. FOB Korea Benzene values were assessed around USD 605/MT for this week, increased by USD 20/MT for this week. CFR China prices were assessed around USD 600/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 Central government has announced that within few weeks vaccine will be ready. As most of the companied are under their last trial phase for this vaccine. Government has already planned and started to register the names with priorities as per the norms for vaccination. In the first week of 2021 the process vaccination will be at its full phase which has elated the market sentiments.
• Oil price rallied on positive term on Friday closing as OPEC+ agrees to partial increases in production beginning in January, preventing a breakdown in the agreement.
• According to market experts, anticipation of vaccine in near future has led to recovery in global fuel demand and further this deal will go a long way to ensure the price of oil remains supported until it can stand on its own feet without support. Brent is likely to print $50/b sooner rather than later with already strong Asian demand eventually being joined by others once the Covid-19 cloud lift.
• WTI was assessed at the level of $ 45.64/bbl increased by 0.36/bbl whereas Brent was increased by 0.46/bbl and were assessed at the level of $48.71/bbl.

$ 1 = Rs. 73.80

Import Custom Ex. Rate USD/ INR: 74.70                                            

Export Custom Ex. Rate USD/ INR: 73.00