Mixed Xylene Weekly Report 11 March 2017

Weekly Price Trend: 06-03-2017 to 10-03-2017

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene remained stable for this week. Prices were assessed at the level of Rs.54/Kg for Kandla port and for Mumbai port.

                                                                        Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.54/Kg at Kandla port and for Mumbai port.
• International prices of Isomer grade Mixed Xylene decreased significantly for this week. Prices were assessed in the range of USD 660-680/MTS with an decrease of USD 45/MTS in compare to last week’s closing values.
• CFR SE Asia prices were assessed in the range of USD 680-700/MT with an reduction of USD 35/MTS in compare to last week’s closing values.
• Leading petrochemical manufacturer of petrochemicals Idemitsu Kosan and JX Nippon Oil Energy has re-nominated their Asian Contract Prices for the month of March.
• Idemitsu Kosan lowered its price for Para Xylene by USD 40/MTS and new price has been USD 940/MTS. X Nippon Oil & Energy nominated its March ACP at $980/mt CFR, while South Korea's SK Global Chemical and S-Oil nominated at $970/mt and $960/mt CFR respectively.
  ExxonMobil was the last producer to nominate its March Para Xylene Asia CP, at $970/mt CFR Monday. Although the nominations are higher than the February settlement which was around USD 900/MT.
• There has been toppling of crude values in this week. In last five days US oil prices  plunge by 7.5% while Brent oil sink by 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
• According to reports, declining oil prices have helped U.S. and global energy companies to get back into the investing mode but yet experts believe that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.
• Market players foresee for OECD oil stocks to decline significantly this year will help the large OPEC cuts and robust global demand growth, to consider the recent drop in crude oil prices to be a good opportunity to enter into bullish option structures.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $49.28/bbl, prices have decreased by $1.00/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.92/bbl in compared to last trading and was assessed around $52.19/bbl.

$1 = Rs. 66.60
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00