Mixed Xylene Weekly Report 01 July 2017

Weekly Price Trend: 26-06-2017 to 30-06-2017

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene decreased slightly for this week. Prices were assessed at the level of Rs.42/Kg for Kandla port and for Mumbai port.

                                                                        Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.42/Kg at Kandla port and for Mumbai port.
• International prices of Isomer grade Mixed Xylene decreased slightly for this week. Prices were assessed in the range of USD 620-640/MTS, increased by USD 15/MTS in compare to last week’s closing values.
• CFR SE Asia prices were assessed in the range of USD 655/MT, increased by USD 15/MTS in compare to last week’s assessed values.
• Para Xylene manufacturers of Asia have nominated the Asian contract prices for the month of July. Exxon Mobil has nominated ACP around USD 830/MT while apan's JX and South Korea's SK Global Chemical made theirs at $840/mt. Japan based Idemitsu Kosan has nominated prices for around USD 815/mt, reduced by down from its initial nomination of $900/mt last week.
• Crude oil prices have followed positive inclination as the fall in U.S. production has bolstered markets this week.
• On Thursday, closing crude values have increased.WTI on NYME closed at $44.93/bbl, prices have increased by $0.19bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.11/bbl in compared to last trading and was assessed around $47.42/bbl.
• After the steep drop in oil prices of recent weeks, market players said that especially hedge funds saw nice buying momentum and lower U.S. crude production was the trigger to act.
• U.S. crude output dropped 100,000 barrels per day (bpd) to 9.3 million bpd last week, the steepest weekly fall since July 2016.
• As per market players recently market is cyclically bullish within a structurally bearish framework, noting that global inventories were drawing, demand is high, OPEC could still make deeper cuts and U.S. producers could be discouraged by rising costs.
• OPEC delegates have indicated they will not rush to implement further cuts to crude output. However, pressure from investors amid a relentless global supply overhang could prompt the group to consider further steps to support the market at its upcoming meeting in Russia next month.

$1 = Rs. 64.58
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.50