Mixed Xylene Weekly Report 11 Feb 2017
Weekly Price Trend: 06-02-2017 to 10-02-2017
- The above given graph focuses on the Mixed Xylene price trend for the current week.
- Domestic prices ofMixed Xylene remained mixed this week. Prices were assessed at the level of Rs.52/Kg for Kandla port and for Mumbai port.
Booking Scenario
INDIA
- Mixed Xylene prices were assessed around Rs.52/Kg at Kandla port and for Mumbai port.
- International prices of Isomer grade Mixed Xylene improved for this week. Prices were assessed in the range of USD 720-740/MTS decreased by USD 10/MT in compare to last week’s closing values.
- CFR SE Asia prices were assessed in the range of USD 750-770/MT.
- Crude oil prices again followed mixed throughout this week and by end of the week prices increased after an unexpected draw in U.S. gasoline inventories pointed to higher demand in the world's biggest oil market.
- According to reports, U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
- The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
- Market Analysts said that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
- On Thursday, closing crude values have increased.WTI on NYME closed at $53.00/bbl, prices have increased by $0.66/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.51/bbl in compared to last trading and was assessed around $55.63/bbl.
$1 = Rs. 66.88
Import Custom Ex. Rate USD/ INR: 68.40
Export Custom Ex. Rate USD/ INR: 66.70
