Toluene Weekly Report 21 Dec 2018
Weekly Price Trend: 17-12-2018 to 21-12-2018
- The above given graph focuses on the Toluene price trend for current week.
- This week prices have decreased. By the end of the week domestic prices were assessed at Rs 51/Kg for bulk quantity for Kandla and for Mumbai ports of India.
Booking Scenario
INDIA&INTERNATIONAL
- This week domestic market price was assessed at Rs 51/kg for Kandla and for Mumbai ports of India.
- CFR India prices were evaluated at USD 570/MT, decreased by USD 40/MT in compare to last week’s closing values. CFR China price of toluene were assessed at the level of USD 565/MT.
- FOB Korea prices were evaluated at USD 530/MT, reduced by USD 55/MT in compare to previous week.
- CFR south East Asia price were evaluated at USD 630/MT. Benzene FOB Korea prices declined by more than USD 40/MT in this week. FOB Korea values were assessed around USD 530/MT. On other side CFR China prices were assessed USD 565/MT for this week.
- Crude market has been operating at lower levels since past few weeks. The prices tumbled by around 4.8% and has reduced to the levels of USD 45.88/bbl. This has reached to its lowest levels in last seventeen months. The oversupply has been the prime reason for this downfall.
- Demand for oil has reduced this year on contrary the market has been flooded with oversupply from world’s top three producers- the USA, Russia and Saudi Arabia.
- Last month earlier OPEC and other 10 producers agreed to cut down their production to remove 1.2 mln barrels per day from the market. But this step has least impact on the market. This cut down in production will last only till January 2019, further no decision has been taken yet.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $45.88/bbl. Prices have decreased by $2.29/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $2.89/bbl in compare to last closing price and was assessed around $54.35/bbl.
- The upcoming holiday season in China has weakened the demand further as most of the units opts for shutdown during this period.
$1 = Rs. 70.14
Import Custom Ex. Rate USD/ INR: 71.75
Export Custom Ex. Rate USD/ INR: 70.05
