Mixed Xylene Weekly Report 23 June 2018

Weekly Price Trend: 18-06-2018 to 22-08-2018

• 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 Kandla port and for Mumbai port.      

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.58/Kg at Kandla port and for Mumbai port.
• International prices of Isomer grade Mixed Xylene remained weak for this week. Prices were assessed in the range of USD 765-785 reduced by USD 35/MTS in compares to last week’s closing values.
• CFR SEA values were assessed in the range of USD 780-800/MTS reduced by USD 35/MTS in compare to last week’s closing values.
• China's Hengli Petrochemical plans to start test runs at one of its two new paraxylene production lines in Dalian, Liaoning province, in November, in line with planned trial runs at its new 20 million mt/year (400,000 b/d) refinery in October.
• Both lines have a production capacity of 2.25 million mt/year. The second line is expected to start in the first or second quarter of 2019, the source said.
• China based Jilin Petrochemical is likely to start its aromatic unit after brief maintenance schedule. Earlier the unit was shut down in the first week of May for annual maintenance. China based unit has the production capacity of Toluene around 1000 mt/year and isomer grade Mixed Xylene around 500 mt/year.
• There has been chaos in international prices as custom Indian exchange rate has also increased to significant level. Crisis in international market due to imposition of trade tariffs on China by US and even India has also imposed tariffs on imports of goods from US.
• This week crude oil prices have followed volatile trend. on Thursday Global benchmark Brent crude extended losses ahead of Friday's meeting of the OPEC, where producers are expected to boost output.
• On Thursday, closing crude values have plunged. WTI on NYME closed at $65.54/bbl; prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.69/bbl in compare to last closing price and was assessed around $73.05/bbl.
• Today oil prices rose by more than 1 percent in early Asian trading, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.
• Iran had been expected to oppose any rise in crude output, but it has now signalled it may support a small increase. As per report, presently oil market had now rebalanced and its aim was to prevent a shortage of crude in future that could squeeze the market.

$1 = Rs. 67.84
Import Custom Ex. Rate USD/ INR: 69.10
Export Custom Ex. Rate USD/ INR: 67.40