Mixed Xylene Weekly Report 02 Dec 2017

Weekly Price Trend: 27-11-2017 to 01-12-2017

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene remained mixed for this week. Prices were assessed at the level of Rs.50/Kg for Mumbai port and  Kandla port.      

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.50Kg at Kandla port and Rs.51/Kg for Mumbai port.
• International prices of Isomer grade Mixed Xylene increased slightly for this week. Prices were assessed in the range of USD 685-705/MTS, increased by USD 10/MTS in compare to last week’s closing values.
• CFR SE Asia prices were assessed in the range of USD 715/MT, increased by USD 10/MTS in compare to last week’s assessed values.
• On other side FOB Korea values for Benzene increased slightly for this week. Prices were assessed at the level of USD 879 /MTS, increased by USD 9/MTS in one week. CFR China values also increased by USD 14/MTS and were assessed around USD 884/MTS.
• There will be addition of Mixed Xylene I the markets in next few months as many plants will turn on their production or will increase their production.
• Japan based Idemitsu Kosan is planning to start a new C8 splitter very soon in its refinery. The refinery is based at Aichi. This new production will also produce Mixed Xylene with capacity of 1, 70,000 mt/year.
• This week crude oil prices have followed mixed trend. On Thursday oil prices have escalated OPEC members, Russia and nine other producers agreed to extend a deal to limit their production through 2018.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.40/bbl; prices have decreased by $0.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.46/bbl in compared to last trading and was assessed around $63.57/bbl
• As per report, the producers will indeed review the deal at the next OPEC meeting in June. Some markets were concerned that a nine-month extension could cause markets to quickly tighten, leading to undersupply that results in a price spike. Oil watchers also warn that a rise in prices will give U.S. shale drillers an incentive to flood the market. Russia has expressed concern that its oil companies will continue to lose market share to American producers, who are exporting record levels of crude.

$1 = Rs. 64.46
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50