Toluene Weekly Report 24 March 2018
Weekly Price Trend: 19-03-2018 to 23-03-2018
- The above given graph focuses on the Toluene price trend for current week.
- This week prices have remained volatile. By the end of the week domestic prices were assessed at Rs 50.5/Kg for bulk quantity for Kandla and Rs 50.5/kg for Mumbai ports of India.
Total import at various ports of India February, 2018
Above graph represents the prices of Toluene for the month of February, 2018. Previous month total imported quantity was around 18424MT.
Booking Scenario
INDIA&INTERNATIONAL
- This week domestic market price was assessed at Rs 50.5/kg for Kandla and Rs. 50.5/kg for Mumbai ports of India.
- CFR India prices were evaluated at USD 740/mt, prices have escalated in compares to previous week.
- CFR China price of toluene were assessed at the level of USD 690/mt.
- FOB Korea prices were evaluated at USD 680/mt prices has increased in compare to previous week.
- The decision taken by Reserve Bank of India (RBI) to ban the lending credit will have an adverse impact on chemical importers in the country.
- The implementation of this law will come in April month.
- Market players have said that in the domestic toluene market, sentiment remains mixed on RBI’s ban on low margins and high inventories at west coast India ports.
- As per market report, this week European toluene prices firmed due to open arbitrage window to the US and a stronger crude oil market.
- This week crude oil prices have followed little volatility while increased through the week. On Thursday oil prices fell as investors booked profits after this week's rally, but losses were limited by the continuing efforts of OPEC and its allies to curb supplies.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $64.30/bbl; prices have decreased by $0.87/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.56/bbl in compared to last trading and was assessed around $68.91/bbl.
$1 = Rs. 65.00
Import Custom Ex. Rate USD/ INR: 65.80
Export Custom Ex. Rate USD/ INR: 64.15
