Mixed Xylene Weekly Report 27 Oct 2018

Weekly Price Trend: 22-10-2018 to 26-10-2018

• 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/Kg at Kandla port and 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 890-910/MT reduced by USD 25/MT in compare to last week’s closing values.
• CFR SEA values were assessed in the range of USD 915/MTS reduced by USD 35/MT for this week.
• Oil prices reduced on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand.
• "Bearish sentiment could force a re-test of support in the low $70.0 per barrel range.
• The market may shift towards an oversupply situation as evidenced by rising inventories over the past few weeks.
• U.S. crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said this week.
• Financial markets have been hit hard by a range of worries, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields, and economic concerns in Italy.
• Washington is putting pressure on governments around the world to stop importing oil from Iran.
• Most, including its biggest customer China, are falling in line, and Iran has turned to storing its unsold oil on its tanker fleet in the hope that it can sell the crude off quickly once the sanctions are lifted again.

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.
$1 = Rs. 73.46
Import Custom Ex. Rate USD/ INR: 74.30
Export Custom Ex. Rate USD/ INR:  72.60