Weekly Toluene Report 9 October 2020
Weekly Price Trend: 05-10-2020 to 09-10-2020
- 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.36/Kg for Kandla and for Mumbai port.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic market price was assessed at Rs.36/Kg for bulk quantity for Kandla and for Mumbai port. Domestic prices remained highly volatile for this week.
- CFR India prices were evaluated at USD 430-450/MT for this week. There has been an improvement of USD 10/MT for Asian markets. Most of the Asian markets remained close till 8th October 2020.
- Recently the government of India has given some positive notes to the Indian petrochemical industry.
- There has been improvement in demand of petrochemicals in India maket past few weeks. The rise has been in particular dut to beginning of festive season across the nation. Next week there will be starting of Navratri festival which will further boost the demand for chemicals like Acetic Acid, vinyl acetate monomer, acrylonitrile, and styrene. Most of the households make changes in their houses or make heavy purchase in this festive season.
- Although this rise has been quite lower in compare to last year figures.
- End products of petrochemical industry like paints, varnishes, automotive components, appliances, adhesives, and food packaging etc all have rise in sales with inception of this festive season.
- Demand from end-consumers for paints and coatings usually rise in the run up to Diwali.
- India imported a higher volume of toluene in June and July compared with 2019 to make the most of a global price slump, which led to sustained heavy inventories in the last two months as demand did not rise in tandem.
- Ahead of festivities next month, toluene consumption in India has recovered to 70%-75% of demand witnessed prior to the outbreak of the coronavirus, market sources said. However, sources said the uptick might fizzle out soon thereafter.
$ 1 = Rs. 73.13
Import Custom Ex. Rate USD/ INR: 74.50
Export Custom Ex. Rate USD/ INR: 72.80
