Mixed Xylene Weekly Report 16 Dec 2017

Weekly Price Trend: 11-12-2017 to 15-12-2017

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene remained stable-to-firm for this week. Prices were assessed at the level of Rs.50/Kg for Mumbai port and Rs.50/Kg  Kandla port.      

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.50/Kg at Kandla port and Rs.50.5/Kg for Mumbai port.
• International prices of Isomer grade Mixed Xylene remained unchanged for this week. Prices were assessed in the range of USD 690-710/MTS, with no change in compares to last week’s closing values.
• CFR SE Asia prices were assessed around USD 725/MT, increased by USD 5/MTS in compare to last week’s assessed values.
• On other side FOB Korea values for Benzene reduced heavily for this week. Prices were assessed at the level of USD 900 /MTS, lowered by USD 15/MTS in one week. CFR China values were assessed around USD 915/MTS.
• This week crude oil prices have followed mixed trend. On Thursday oil prices rose as a pipeline outage in Britain continued to support prices despite forecasts showing global crude surplus in the beginning of next year.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.04/bbl; prices have increased by $0.44/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.87/bbl in compared to last trading and was assessed around $63.31/bbl.
• While on Friday, Oil markets were stable as the Forties pipeline outage in the North Sea and the ongoing OPEC-led production cuts supported prices, while rising output from the United States kept crude from rising further.
• Traders said markets were overall well supported by efforts led by OPEC and Russia to withhold supply to prop up prices.
• As per market report, the oil market to have a surplus of 200,000 barrels per day in the first half of next year before reverting to a deficit of about 200,000 bpd in the second half. That means 2018 overall should show closely balanced market.

$1 = Rs. 64.04
Import Custom Ex. Rate USD/ INR: 63.70
Export Custom Ex. Rate USD/ INR: 65.40