Mixed Xylene Weekly Report 09 June 2018

Weekly Price Trend: 04-06-2018 to 08-08-2018

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene remained weak for this week. Prices were assessed at the level of Rs.58/Kg for Kandla port and for Mumbai port.      

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.59/Kg at Kandla port and for Mumbai port.
• International prices of Isomer grade Mixed Xylene remained stable for this week. Prices were assessed in the range of USD 815-835/MTS with no change in compares to last week’s closing values.
• CFR SEA values were assessed in the range of USD 830-850/MTS with no change in compare to last week’s closing values.
• The two major petrochemical manufacturers have nominated their prices for the Para Xylene for the month of June for Asian region. Exxon Mobil has nominated ACP at USD 1120/MT and while Idemitsu has nominated ACP at USD 1080/MT.
• JXTG Nippon Oil & Energy of Japan nominated its ACP last week at USD 1130/MT and SK Global of South Korea nominated  its ACP at USD 1080/MT.\
• There are five PX ACP sellers in Asia: Japanese companies JXTG Nippon and Energy, and Idemitsu Kosan, South Korean companies S-Oil and SK Global Chemical, and US major ExxonMobil.
• Mitsui Chemical shut down its naphtha cracker for a maintenance turnaround. The unit is likely to remain off-stream for around 5 weeks and may resume its production in the first week of July 2018.
• Unit is based at Kashia in Japan and has the manufacturing capacity of Propylene around 2,60,000 mt/year and Ethylene around 5,40,000 mt/year.
• This week oil prices have followed volatile trend. On Thursday oil prices surged due to concern about a steep drop in exports from Venezuela and concerns OPEC may not raise production at its meeting this month.
• On Thursday, closing crude values have increased. WTI on NYME closed at $65.95/bbl; prices have increased by $1.22/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $1.96/bbl in compare to last closing price and was assessed around $77.32/bbl.
• As per report, Crude prices got an early lift on concerns about exports from Venezuela. Gains grew while OPEC would focus on balancing the market rather than on rolling back production caps.
• The OPEC and other producers including Russia have cut output since 2017 to reduce a global crude glut. The group meets in Vienna on June 22 to discuss its supply policy. Market players said that to maintain the balance between supply and demand to ensure the stability of the oil markets matters to us.

$1 = Rs. 67.50
Import Custom Ex. Rate USD/ INR: 67.85
Export Custom Ex. Rate USD/ INR: 66.15