Mixed Xylene Weekly Report 20 Oct 2018

Weekly Price Trend: 15-10-2018 to 19-10-2018

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene reduced significantly for this week. Prices were assessed at the level of Rs.74/Kg for Mumbai and Rs.73.5/Kg for Kandla port.

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.73.5/Kg at Kandla port and Rs.74/Kg for Mumbai port.
• International prices of Isomer grade Mixed Xylene has improved for this week. Prices for FOB Korea were assessed in the range of USD 915-935MT with no change in compare to last week’s closing values.
• CFR SEA values were assessed in the range of USD 940/MTS remained stable for this week.
• In a recent development, India is looking towards European nations for Mixed xylene imports. India’s leading petrochemical manufacturer Reliance has imported 15000-20000 mt of mixed xylenes in the month of September. Reliance is the second largest manufacturer of Para Xylene in the world with the production capacity of 4.2 mln mt/year. Its Para Xylene manufacturing is based at Jamnagar in Gujarat. However it has further stated that import will not be on regular basis.

• There has been significant decline in crude prices in last two weeks. Prices plunged by more than 11 % in last two weeks. Oil prices rose to nearly four-year highs at the start of October as there has been depletion in crude supply sue to US sanctions on Iran.
•  Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
• The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
• The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.

PLANT NEWS
Isomer Mixed xylene shutdown by Lotte Chemical for maintenance
Lotte Chemical has shut down its isomer grade Mixed Xylene unit for maintenance turnaround. The unit was shut down in the second week of September and is likely to remain off-stream for around two months. The unit is expected to resume its production in the mid of November.
Unit is based at Yeosu in South Korea and has the production capacity of 85,000 mt/year.
Isomer Mixed xylene shutdown by Yeochu NCC for maintenance
Yeochu NCC has shut down its isomer grade Mixed Xylene unit for maintenance turnaround. The unit has been shut down in the first week of October and is likely to remain off-stream for around 6-7 weeks. Unit is likely to restart in the first week of November.
Unit is based at Yeosu in South Korea and has the production capacity of 40,000 mt/year.
Isomer Mixed xylene unit shut down by CPC No 6
CPC No 6 has shut down its isomer grade Mixed Xylene unit for maintenance turnaround. The unit was shut down in the second week of September and is likely to remain off-stream for around two months. Unit is likely to restart in second week of November.
Unit is based at Kaohsiung in Taiwan and has the production capacity of 1,50,000 mt/year.

$1 = Rs. 73.32
Import Custom Ex. Rate USD/ INR: 74.30
Export Custom Ex. Rate USD/ INR:  72.60