Mixed Xylene Weekly Report 26 May 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.58.5/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 840-860/MTS slightly reduced by USD 5/MTS in compares to last week’s closing values.
• CFR SEA values were assessed in the range of USD 855-875/MTS slightly reduced by USD 5/MTS in compare to last week’s closing values.
• This week oil prices have followed volatile trend. On Thursday, prices plunged, by the prospect of the first increase in OPEC output since 2016 in the face of concern over supply from both Venezuela and Iran, while a surprise rise in U.S. crude inventories raised doubt over seasonal demand.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $70.71/bbl; prices have decreased by $1.13/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.01/bbl in compared to last trading and was assessed around $78.79/bbl.
• This discussion about possible OPEC supply increases after the June meeting has put a brake on the oil price for the time being, so $80 is a big hurdle to overcome. If prices get above there, that will further intensify and increase the likelihood that OPEC will do something. It's going to be very difficult to overcome this level on a sustainable basis before the OPEC meeting.
• As per report, the OPEC may decide at its meeting in June to increase oil output to make up for reduced supply from Iran and Venezuela and in response to concerns from Washington over a rally in oil prices. OPEC and some non-OPEC major oil producers are scheduled to meet in Vienna on June 22.

$1 = Rs. 67.75
Import Custom Ex. Rate USD/ INR: 68.65
Export Custom Ex. Rate USD/ INR: 66.95