Toluene Weekly Report 28 August 2020

Weekly Price Trend: 24-08-2020 to 28-08-2020

• The above given graph focuses on the Toluene price trend for current week. Prices remained highly vulnerable throughout this week.
• This week prices improved slightly in compare to last week’s closing values. Prices were assessed at the level of Rs.36/Kg for Kandla and for Mumbai port.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.36/kg for bulk quantity for Kandla and for Mumbai port. Domestic prices remained highly volatile for this week.
• CFR India prices were evaluated at USD 430-450/MT for this week. FOB Korea values for Toluene was assessed around USD 410-430/MT for this week. Prices increased by USD 30/MT for this week.
• CFR China price of toluene were assessed at the level of USD 420/MT for this week
• FOB Korea values for Benzene were assessed around USD 443/MT for this week. There has been an increase of USD 10/MT for this week. CFR China prices were assessed at the level of USD 442/MT for this week.
• There have been heavy rains in the western part of India specifically Mumbai which has halted all the port as well as other operations.
• Asian petrochemical segment remained stable and calm in spite of shutdown of major refineries across the globe. There has been shutdown of major refineries in US due to hurricane Laura in southwest Louisiana.
• There has been concerns over slowdown in demand as world sees no slowdown in the outpouring of coronavirus cases.
• As per reports, the Hurricane Laura is incoming very fiercely, the market thinks its impact will be very short-lived as oil producers in the region are just temporarily pausing their operations for a few days.
• On Thursday closing, crude values have declined slightly. WTI on NYME closed at $43.04/bbl. Prices have reduced by 0.35/bbl in compared to last closing prices. While Brent on Inter Continental Exchange have reduced by 0.55/bbl in compare to last closing price and was assessed around $45.09/bbl. 

$ 1 = Rs. 73.38

Import Custom Ex. Rate USD/ INR: 75.90                                            

Export Custom Ex. Rate USD/ INR: 74.15