Mixed Xylene Weekly Report 14 July 2018

Weekly Price Trend: 09-07-2018 to 13-07-2018

• 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 Mumbai and for Kandla port.

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.58/Kg at Kandla port and Rs. 57.5/Kg 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 slightly reduced by USD 5/MTS in compares to last week’s closing values.
• CFR SEA values were assessed in the range of USD 830-850/MTS reduced by USD 5/MTS in compare to last week’s closing values.
• Indian firm India’s ONGC Mangalore Petrochemical Ltd , OMPL will shut its aromatic unit for maintenance turnaround in the second week of August. The aromatic unit is likely to remain off-stream for around one week.
• The unit has the production capacity of 900,000 mt/year of paraxylene and 300,000 mt/year of benzene.
• In the latest round of tariffs imposed by US on China will include many petrochemical products. The list of $200 billion in Chinese goods disclosed this week would be subject to a 10% tariff if implemented amid growing trade tensions between the US and China. In the latest round of tariffs imposed by US on China will include many petrochemical products. The list of $200 billion in Chinese goods disclosed this week would be subject to a 10% tariff if implemented amid growing trade tensions between the US and China.
• Prices in Indian market are likely to remain weak as there are heavy rains in Mumbai and western part of India. There is a huge impact of monsoon season on the demand for majority of petchem products.
• This week crude oil prices have followed mixed trend. On Thursday  oil prices steadied, after the International Energy Agency's warned that the world's oil supply cushion "might be stretched to the limit" due to production losses in several different countries.
• Brent prices rallied on Thursday, recouping some ground following sharp losses the previous session after Libya said it would resume oil exports. Brent crude oil gained 59 cents a barrel to trade at $74/bbl. On Wednesday, the global benchmark slumped $5.46, its biggest one-day fall in two years.     
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $70.33/bbl; prices have decreased by $0.05/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.05/bbl in compare to last closing price and was assessed around $74.45/bbl.
• As per report, inventories at the Cushing, Oklahoma, delivery hub had fallen 929,399 barrels from July 6 to July 10. Supply to the U.S. market has also been squeezed by the loss of some Canadian oil production.
• The pullback has not yet derailed the possibility that Brent will recover to above $80 a barrel by the end of the year. Market players said t hat that if Brent pulls to below $70 a barrel, there is less of a chance that the market will recover as quickly.

$1 = Rs. 68.52
Import Custom Ex. Rate USD/ INR: 69.70
Export Custom Ex. Rate USD/ INR: 68.00