Mixed Xylene Weekly Report 09 Dec 2017

Weekly Price Trend: 04-12-2017 to 08-12-2017

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene remained stable-to-firm for this week. Prices were assessed at the level of Rs.50/Kg for Mumbai port and Rs.50.50/Kg  Kandla port.      

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.50/Kg at Kandla port and Rs.50.5/Kg for Mumbai port.
• International prices of Isomer grade Mixed Xylene increased slightly for this week. Prices were assessed in the range of USD 690-710/MTS, increased by USD 5/MTS in compares to last week’s closing values.
• CFR SE Asia prices were assessed around USD 720/MT, increased by USD 5/MTS in compare to last week’s assessed values.
• On other side FOB Korea values for Benzene increased heavily for this week. Prices were assessed at the level of USD 915 /MTS, increased by USD 35/MTS in one week. CFR China values also increased by USD 25/MTS and were assessed around USD 910/MTS.
• There has been decline in imports of isomer grade Mixed Xylene in China. There has been bulk in domestic production in this year. The shutdown of downstream units of Para Xylene for maintenance has also added further material in the market. The availability of cheap cargoes along with shorter delivery period has put an additional pressure on imports of isomer grade Mixed Xylene. The scenario is likely to dominate the market few more months. As soon as the other downstream units will resume their production consumption will improve.
• Crude oil prices remained mixed for this week. Oil rose on Thursday indicating that investors are doubtful of pushing the market lower in response to an unexpectedly large rise in U.S. stocks of refined products that has increased concern about the demand outlook.
• On Thursday, closing crude values have increased. WTI on NYME closed at $56.69/bbl; prices have increased by $0.73/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.98/bbl in compared to last trading and was assessed around $62.20/bbl.
• On Friday oil prices dipped as the U.S. dollar strengthened, although OPEC-led supply cuts are seen supporting markets going into next year.
• As per market players, Soaring U.S. output threatens to undermine efforts led by the OPEC and Russia to bring production and demand into balance following years of oversupply. The market suggests that the bull market is not as strong as earlier predicted. Oil prices saw a sharp 2.9 percent decline after the US published its inventory data. Analysts expect that oil prices to move in a price band of USD 45 to USD 60 for the calendar year 2018.

$1 = Rs. 64.46
Import Custom Ex. Rate USD/ INR: 63.70
Export Custom Ex. Rate USD/ INR: 65.40