India's domestic toluene prices soften on increased supply

27 September 2012 04:07  [Source: ICIS news]

SINGAPORE (ICIS)--India’s domestic toluene prices have softened from record high levels as Thai-origin cargoes have eased the tight supply situation, India-based buyers said on Thursday.

Toluene prices fell to Indian rupee (Rs) 80-82/kg (Rs80,000-82,000/tonne) ($1,496-1,533/tonne) ex-tank on Wednesday from Rs84-85/kg ex-tank on 20 September, they added.

The arrival of 3,000-4,000 tonnes of Thai-origin toluene in India brought relief to the critically-tight supply situation, said an India-based buyer.

India toluene prices have been high mostly on account of tight supply and not because of downstream demand, they added.

“This level is still too high. Normal levels should be around Rs72/kg ex-tank,” another domestic toluene buyer said.

Looking forward, prices are expected to soften with the arrival of shipments in October, said market participants.

($1 = Rs53.49)

By: Jasmine Khoo
+65 6780 4359

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