Toluene Weekly Report 2 August 2019 03 Aug 19, 11:33 am

Toluene Weekly Report 2 August 2019

Weekly Price Trend: 29-07-2019 to 02-08-2019

The above given graph focuses on the Toluene price trend for current week.
This week prices remained volatile throughout this week. Prices followed an increasing trend for most of the week.
By end of the week prices were assessed at the level of Rs.61/Kg for bulk quantity for Kandla and for Mumbai ports of India increased by Rs.4/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

This week domestic market price was assessed at Rs.61/kg for bulk quantity increased by Rs.5/Kg in compare to last week’s closing values.
CFR India prices were evaluated at USD 690/MT, increased by USD 5/MT for this week.
CFR China price of toluene were assessed at the level of USD 685/MT, with no change in values for this week. On other side FOB Korea prices were evaluated at USD 660/MT, increased by USD 5/MTS for this week.
CFR south East Asia price were evaluated at USD 700/MT, increased by USD 15/MT for this week.
Benzene the major source for aromatic products has also improved for this week. FOB Korea values for Benzene were assessed around USD 663/MT, increased by USD 8/MT for this week, while CFR China prices also increased and were assessed at the level of USD 656/MT for this week.
There is again threat from US for imposing new tariffs on Chinese goods. US President Donald Trump repeated on Thursday his earlier threat to impose tariffs on $300bn worth of Chinese goods, a move that would put nearly every US import from China under some kind of duty.
China has not responded yet in this matter. However, it has retaliated every time that the US had imposed tariffs on Chinese goods.
Chemical companies have already complained that the tit-for-tat tariffs between the US and China have hurt their business. They highlighted the trade dispute in their second-quarter earnings reports and in their conference calls with analysts.
State oil giant Saudi Aramco sets its crude prices based on recommendations from customers and after calculating the change in the value of its oil over the past month, based on yields and product prices.
Top oil exporter Saudi Arabia may cut prices for most of the crude grades it sells to Asia for a second straight month in September after Middle East benchmark prices weakened.
On Thursday, closing crude values have mixed. WTI on NYME closed at $53.95/bbl. Prices have decreased by 4.63/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.02/bbl in compare to last closing price and was assessed around $65.19/bbl.