On October 16, the FOB Korea toluene price fell by $8.5/mt to $1,217.5/mt, while the FOB China toluene price dropped by $9.5/mt to $1,210.5/mt.
In the Indian market, the spread between CFR India toluene and FOB Korea (in USD) stood at $159/mt. The CFR India toluene price was assessed at $1,376.5/mt, down $8.5/mt from the previous trading day. Market sources noted that trading activity in India remains subdued; however, tight domestic inventories are providing support to prices. Ex-tank prices in Kandla and Mumbai were quoted at INR 140/kg. Short-term demand shows resilience with no significant improvement in inventory levels observed yet. Looking ahead, upcoming maintenance at Korean cracking facilities, combined with the ongoing gasoline blending season through year-end, may keep toluene supply relatively tight.
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