Mixed Xylene Weekly Report 24 Feb 2018

Weekly Price Trend: 19-02-2018 to 23-02-2018

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

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.50/Kg at Kandla port and for Mumbai port.
• International prices of Isomer grade Mixed Xylene increased for this week. Prices were assessed in the range of USD 770-790, with no change in compares to last week’s closing values.
• China market remained closed due to Lunar holidays. The activities will resume only after this week.
• Japan's JXTG Nippon Oil and Energy nominated its March paraxylene Asia Contract Price for the month of March 2018. The price nominated is around USD 1,030/mt CFR Asia.
• The nomination is $60/mt higher in compared to a major settlement of $970/mt CFR Asia in February.
• The other five major suppliers of PA in Asia are Japanese companies JXTG Nippon Oil and Energy and Idemitsu Kosan, ExxonMobil, and South Korean companies S-Oil and SK Global Chemical.
• This week oil prices have followed mixed trend. Oil prices rose on Thursday, on U.S. crude stocks unexpectedly declined and also by a drop in the dollar.
• On Thursday, closing crude values have increased. WTI on NYME closed at $62.77/bbl; prices have increased by $1.09/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.97/bbl in compared to last trading and was assessed around $66.39/bbl.
• Crude inventories had been forecast to rise 1.8 million barrels, as stocks seasonally increase when refineries cut intake to conduct maintenance. As per source, the unexpected fall in oil inventories in the U.S. should see support for crude oil prices remain strong.

$1 = Rs. 64.73
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.85