Mixed Xylene Weekly Report 10 Feb 2018

Weekly Price Trend: 05-02-2018 to 09-02-2018

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene remained firm for this week. Prices were assessed at the level of Rs.50.5/Kg for Mumbai port and for Kandla port.      

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.50.5/Kg at Kandla port and for Mumbai port.
• International prices of Isomer grade Mixed Xylene increased for this week. Prices were assessed in the range of USD 755-775, with an increase of USD 10/MTS in compares to last week’s closing values.
• With announcement of budget 2018 on Thursday, the petrochemical sector of India has remained subdued. With upsurge in crude values in international market and increasing currency rate are symptoms for weak economic growth and slowdown in economic development.
• CFR SE Asia prices were assessed around USD 780/MT, reduced by USD 10/MTS in compare to last assessed values.
• There has been increase in domestic values along with hike in international prices. But this hike was subdued as week progressed. In the latter half of the week there has been heavy decline in crude values which in turn led to slight weakening of other petrochemical products.
• This week crude oil prices have followed weak trend. Oil prices fell sharply after the U.S. government reported crude stockpiles rose by 1.9 million barrels. The increasing U.S. oil production and crude stockpiles, and stock market sell-off, piled pressure on oil prices this week. A stronger dollar has also been a prevailing factor the decline. But the supply dynamics are working against a sustained price rally.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $61.15/bbl; prices have decreased by $0.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.70/bbl in compared to last trading and was assessed around $64.81/bbl.
• As per market analyst oil market moves could be exaggerated because the number of bets that crude prices will keep climbing has risen sharply, while wagers that prices will fall have plunged. That extreme market positioning can encourage bouts of profit-taking.

 
$1 = Rs. 64.40
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.85