Toluene Market Softens in India; Declining Crude Oil Prices Play Key Role – 3 Dec 2014

Declining Crude Oil prices are taking toll on the Toluene market in India. Prices are going down significantly, eroding revenues of sellers. To compound to the situation, demand for the aromatic is also weakening as the major consumers--Pharmaceutical and Paint industries--are lowering their purchases. Purchases are going on need basis only.

According to information received from sources, importers as well as traders are not keen in stocking the aromatic.

RIL declines its toluene price by Rs 10 per kg to Rs 57.50 per kg from last month to this month, while BPCL decreases its toluene price by Rs 11.5 per kg to Rs 57.50 per kg.While Ex-Kandla and Ex-Mumbai price of Toluene dwindle by Rs.11.5 per kg to Rs 57 per kg,from November 1 to December 2.

Moreover, import booking price for the aromatic has gone down by around $70 per MT to $800 per MT in last two weeks.