Mixed Xylene Weekly Report 06 Oct 2018
Weekly Price Trend: 01-10-2018 to 05-10-2018
- The above given graph focuses on the Mixed Xylene price trend for the current week.
- Domestic prices ofMixed Xylene increased significantly for this week. Prices were assessed at the level of Rs.74/Kg for Mumbai and Rs.73/Kg for Kandla port.
Booking Scenario
INDIA
- Mixed Xylene prices were assessed around Rs.73/Kg at Kandla port and Rs.74/Kg for Mumbai port.
- International prices of Isomer grade Mixed Xylene has improved for this week. Prices for FOB Korea were assessed in the range of USD 915-935MT increased by USD 10/MT for this week.
- CFR SEA values were assessed in the range of USD 940/MTS increased by USD 10/MT for this week.
- China market remained closed for this week as the nation is celebrating Golden week festival.
- Declining Indian currency is creating new records against dollar and is also one of the main reasons for rise in petrochemical prices.
- There has been heavy fluctuation in crude prices in this week. As the month of November is approaching fast the heat of sanction felt in the crude values across the world.
- On Thursday crude prices plunged due to rise in the inventory levels in US. But this hike was again pulled back on Thursday. Saudi Arabia and Russia has stated they will increase the crude supply but could not fill the void created by disruption of supply from Iran.
- With short supply from the price for crude is likely to reach a mark of $90 to $100 per barrel. On Wednesday, Saudi Energy Minister Khalid al-Falih said the kingdom was pumping near record levels and would raise output in November. Saudi Arabia is one of the few countries with the ability to significantly raise output. Many experts believe that the spar capacity of specified by Saudi is merely a statement but does exist in reality.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $74.33/bbl. Prices have decreased by $2.08/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.71/bbl in compare to last closing price and was assessed around $84.58/bbl.
$1 = Rs. 73.78
Import Custom Ex. Rate USD/ INR: 74.60
Export Custom Ex. Rate USD/ INR: 72.90
