Mixed Xylene Weekly Report 05 Aug 2017

Weekly Price Trend: 31-07-2017 to 04-08-2017

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene reduced for this week. Prices were assessed at the level of Rs.42./Kg for Mumbai port and Rs.42.5/Kg for Kandla port.      

                                                                                 Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.42/Kg at Kandla port and Rs42.5/Kg for Mumbai port.
• International prices of Isomer grade Mixed Xylene increased for this week. Prices were assessed in the range of USD 660-680/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 695/MT, increased by USD 10/MTS in compare to last week’s assessed values.
• Fire broke out at GS Caltex’s refinery and petrochemical complex at Yeosu. A major incident of fire was reported at South Korean produce GS Caltex’s refinery and petrochemical complex. This has led to the shutdown of no2 catalytic reformer. According to company sources, a Parex unit, which separates paraxylene from mixed xylenes, was also shut, while the toluene disproportionate unit and other toluene-to-PX units were operating as usual. If the No. 2 CCR, one of two CCRs, remains shut for a long time, the company would have to consider cutting the operating rates of the TDP unit and other toluene-to-PX units as well.
• This week prices followed mixed trend. On Thursday oil prices plunged as watchful buying dried up after U.S. crude rose to nearly $50 a barrel. On Thursday, WTI on NYME closed at $49.03/bbl, prices have decreased by $0.56/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.35/bbl in compared to last trading and was assessed around $52.01/bbl.
• Investors are looking forward for OPEC meeting which is to be held next week for fresh insight into the oil cartel's commitment to improve compliance with the deal to curb production.
• However, market participants downplayed the importance of the meeting to be held next week, suggesting oil prices may struggle to sustain the current rising trend.
• According to reports, there will be reluctance in production cuts or a sustained uptick in demand, prices are likely to remain in the low to mid $50s for the remainder of the year. There are signs that the oil industry has adapted to an era of low prices and can produce and operate at levels that would previously have been uneconomic.

$1 = Rs. 63.58
 Import Custom Ex. Rate USD/ INR: 64.55
 Export Custom Ex. Rate USD/ INR: 62.85