09 Toluene demand increases in Indian market – 9 Feb 2015

Toluene demand goes up in the major chemical hubs of India, demand increases due to stability comes in the chemical market as well in crude oil prices. March ICE Brent crude futures rebounded further from a day earlier, up $3.96 per barrel day on day to $55.66 per barrel.

Import price of the Chemical also increases due to demand – supply gap comes over the major markets. There is delay in shipment of Toluene which causes to rise in price of the chemical in the trading range of Rs 62-63 per kg at the ports.

While RIL and BPCL quoted their toluene price at Rs 50 per kg and Rs 47 per kg respectively.

Prevailing  booking price of the chemical at $ 625-630 per MT FOB Korea.

An official from the Reliance Industries Limited told website, “ Demand of the toluene is strong in the Indian markets but there is less inventory available with RIL hence unable to cater the domestic demand.”

He further said that there will be around 17 kt of toluene arrive at  the Indian ports soon, due to continuously rising demand.