In India Toluene prices are probable to sink from the beginning of November 2018, due to plunge in the prices of aromatic in Asian markets.
As per recent report, Export price of Toluene in South Korea has declined to USD 820/mt .
Aromatic demand also has been bearish as off-takes from the industry users such as Paint sector will go down during the winter season.
However, presently people have turned toward non-VOC paints and adhesives due to the detrimental effects of toluene. This increasing awareness among people and availability of a safer option can thwart the toluene market from reaching its full potential.
On account of slowdown in demand and lesser prices of material, traders preferred to maintain lesser inventory level. Market players said that Toluene producers expected to lower their ex-work prices in the coming days to maintain import price parity.
