India’s Reliance Industries cuts toluene list price by Rs4/kg

16 October 2013 10:28  [Source: ICIS news]

SINGAPORE (ICIS)--Reliance Industries Ltd (RIL) cut its toluene list prices by rupee (Rs) 4.00/kg ($64.69/tonne) late on Tuesday, given a general weakness in the global market, traders said on Wednesday.

Its new toluene list price stood at Rs74.00/kg ex-work, effective 15 October, they said.

On 25 September, Reliance first cut the list prices by Rs4.00/kg from the nine-month high of Rs82.00/kg ex-work.

Spot discussions moved towards rupee (Rs) 80.00/kg ex-tank in west India’s domestic market, from early October’s level of around Rs85.00/kg ex-tank, Indian traders said.

At midday, spot free-on-board (FOB) Korea prices stood at $1,116/tonne (€826/tonne), down by more than $60/tonne from the six-month high hit on 9 September, according to ICIS.

($1 = Rs61.83 / $1 = €0.74)

Author: Ong Sheau Ling

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