Mixed Xylene Weekly Report 25 March 2017
Weekly Price Trend: 20-03-2017 to 24-03-2017
- The above given graph focuses on the Mixed Xylene price trend for the current week.
- Domestic prices ofMixed Xylene declined significantly for this week. Prices were assessed at the level of Rs.50/Kg for Kandla port and Rs.51/Kg for Mumbai port.
Booking Scenario
INDIA
- Mixed Xylene prices were assessed around Rs.50/Kg at Kandla port and Rs.51/Kg for Mumbai port.
- International prices of Isomer grade Mixed Xylene remained unchanged for this week. Prices were assessed in the range of USD 660-680/MTS with no change in compare to last week’s closing values.
- CFR SE Asia prices were assessed in the range of USD 670-690/MT with an decrease of USD 10/MTS in compare to last week’s assessed values.
- Price trend for crude values remained thin with very few changes. Oil prices plunged initially as U.S. crude inventories increased faster than expected, piling pressure on OPEC to extend output cuts beyond June. Now investors await a meeting between OPEC and its allies that may signal whether they will extend output curbs.
- As per sources, American crude output continued to rise along with inventories, while OPEC won’t formally decide until May whether to extend production curbs, officials will meet this weekend in Kuwait to discuss their deal’s progress.
- Market analyst said that without the production cut agreement, prices could basically target the low-to-mid $30s, players are positive that they will extend production cut. Some players are anticipating lowering prices due to high supplies.
- On Monday WTI were closed at $49.31 and Brent closed at $51.76 while on Thursday, closing crude values have decreased.WTI on NYME closed at $47.70/bbl, prices have decreased by $0.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $50.56/bbl.
$1 = Rs. 65.41
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50
