Mixed Xylene Weekly Report 2 June 2018

Weekly Price Trend: 21-05-2018 to 25-05-2018

• 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.58/Kg for Kandla port and for Mumbai port.      

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.58.5/Kg at Kandla port and 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/MTS reduced by USD 25/MTS in compares to last week’s closing values.
• CFR SEA values were assessed in the range of USD 830-850/MTS slightly reduced by USD 25/MTS in compare to last week’s closing values.
• The two major petrochemical manufacturers have nominated their prices for the Para Xylene for the month of June for Asian region. Exxon Mobil has nominated ACP at USD 1120/MT and while Idemitsu has nominated ACP at USD 1080/MT.
• JXTG Nippon Oil & Energy of Japan nominated its ACP last week at USD 1130/MT and SK Global of South Korea nominated  its ACP at USD 1080/MT.\
• There are five PX ACP sellers in Asia: Japanese companies JXTG Nippon and Energy, and Idemitsu Kosan, South Korean companies S-Oil and SK Global Chemical, and US major ExxonMobil.
• This week oil prices followed a mixed trend. On Thursday U.S. crude prices sank after a brief rally in the previous session, but as per analysis the recent slump in oil prices won't last much longer.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $67.04/bbl; prices have decreased by $1.17/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $0.09/bbl in compared to last trading and was assessed around $77.59/bbl.
• Oil prices were already heading lower on recent reports that OPEC, Russia and several other producer nations could soon begin winding down their 17-month-old deal to cap output. That agreement has drained a global glut of oil and helped balance the market, but it's now under review due to falling Venezuelan output and renewed U.S. sanctions against Iran.
• Market players said that supply and demand in the oil market are finely balanced, and surging U.S. output might not be enough to offset supply disruptions in Venezuela and Iran. Oil market fundamentals and OPEC policy could support oil at around $70 a barrel or higher.

$1 = Rs. 67.07
Import Custom Ex. Rate USD/ INR: 68.65
Export Custom Ex. Rate USD/ INR: 66.95