Toluene Weekly Report 13 March 2020
Weekly Price Trend: 09-03-2020 to 13-03-2020
- The above given graph focuses on the Toluene price trend for current week. There has been plunge in the prices for this week.
- This week prices reduced heavily for this week. Prices were assessed at the level of Rs.47/Kg for Kandla and Rs.49/Kg for Mumbai port. Prices were reduced by Rs.4/Kg for this week for bulk quantity.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic market price was assessed at Rs.47/kg for bulk quantity for Kandla and Rs.49/Kg for Mumbai port. Domestic prices reduced significantly for this week.
- CFR India prices were evaluated at USD 540/MT, reduced by USD 95/MT for this week. CFR China price of toluene were assessed at the level of USD 460/MT, reduced by USD 95/MT for this week. While CFR SEA prices for this week were assessed around USD 605/MT. This has been heavy decline in prices in international market since last one year.
- Benzene the major source for aromatic products has slightly reduced for this week. FOB Korea values for Benzene were assessed around USD 525/MT for this week, reduced by USD 95/MTS for this week while CFR China prices were assessed at the level of USD 545/MT for this week again reduced by USD95/MT for this week.
- Global petrochemical markets crashed this week heavily as Coronavirus declared pandemic. This virus continues to spread in Asian countries. In a major decision, US government has cancelled all its air travel from Europe for 30 days. It has created a major uncertainty for producers, traders and end-users affecting heavily to the Asian market for time being.
- The pandemic has already affected gasoline demand, which affects gasoline blendstocks like mixed xylenes, toluene and MTBE, a source said, adding that if the economic situations does not improve "people will stop buying clothes and pet bottles, which will affect the entire polyester chain."
- Global consumer demand is slowing and this will exacerbate bearish market fundamentals in the methanol market, trade sources said.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $31.50/bbl. Prices have decreased by 1.48/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 2.57/bbl in compare to last closing price and was assessed around $33.22/bbl.
$ 1 = Rs. 73.89
Import Custom Ex. Rate USD/ INR: 74.25
Export Custom Ex. Rate USD/ INR: 72.55
