Imported Toluene in Kandla

Importers have increased the price of toluene by ₹1/kg, bringing it to ₹73.00/kg (Ex-Kandla), ₹73.50/kg (Ex-Hazira), and ₹73.50/kg (Ex-Mumbai) on 60-day credit terms. Trader offers varied, with quotes at ₹71/kg (Ex-Kandla) and ₹72/kg (Ex-Mumbai) on advance payment terms.

According to a market participant, the significant price drop today can be attributed to the arrival of several vessels in the first week of September 2024. Bulk buyers are currently focusing on just-in-time procurement rather than building inventory, as the market remains mixed and bearish. Buyers are anticipating further corrections in Toluene prices.

Toluene prices in the domestic market witnessed a decline of ₹2/kg today, bringing the rates to ₹81++ per kg on an ex-Mumbai basis and ₹80++ per kg on an ex-Kandla basis, with 60-day payment terms. The Asian benchmark FOB Korea toluene prices are also experiencing a correction due to poor market sentiment.

In the Asian market, toluene prices are being corrected due to poor market sentiment. The Asian benchmark FOB Korea prices declined by $20/MT today. In the domestic market, toluene prices decreased by ₹1/kg, bringing the rates to ₹82.00++ Ex-Kandla and ₹82.50++ Ex-Mumbai on 60-day payment terms.

Importers have reduced Toluene prices by ₹0.5 per kg, setting the new rates at ₹81.50++ Ex-Kandla and ₹82.50++ Ex-Mumbai for advance payments. Traders holding inventory are offering lower prices in the range of ₹83.50++ to ₹83.75++ for 60-day credit terms.

In the domestic market, VAM prices have witnessed a ₹2/kg increase, now quoted at ₹68/kg ex-Kandla for direct consumers on 60-day payment terms. Importers offer slightly higher rates to traders at ₹68.50/kg ex-Kandla under similar 60-day credit conditions.

The domestic prices for Phenol, Acetone, and IPA have seen a sharp increase following the announcement of a planned maintenance shutdown at Deepak Phenolics' plant, which is scheduled to take place from 10th to 25th October 2024. Currently, import offers for Phenol have risen to ₹105/kg (Ex-Kandla), marking a ₹2/kg increase on an advance payment basis. Acetone prices have also climbed by ₹2/kg, now priced at ₹83/kg (Ex-Mumbai) and ₹82.50/kg (Ex-Kandla) under similar payment terms.

In the domestic market, Methyl Amines prices have decreased by ₹1/kg, despite an uptick in feedstock methanol prices. Current offers for Mono Methyl Amine (MMA) 40% stand at ₹52++/kg, Di Methyl Amine (DMA) at ₹59++/kg, on advance payment terms. Several traders observed that domestic manufacturers like Balaji Amines and Alkyl Amines offered more competitive prices compared to imports, making them a preferred choice for buyers.

Today, GNFC, a domestic manufacturer, reduced Aniline prices by INR 4/kg to INR 145++ for tanker load, while barrel pack prices were at INR 158++ ex-Bharuch on advance payment terms. Importer and trader offers were lower, at INR 140++ ex-Mumbai and Kandla.