Mixed Xylene Weekly Report 29 April 2017

Weekly Price Trend: 24-04-2017 to 28-04-2017

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene remained soft-to-stable for this week. Prices were assessed at the level of Rs.49/Kg for Kandla port and Rs.50/Kg for Mumbai port.

                                                                        Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.49/Kg at Kandla port andRs.50/Kg for Mumbai port.
• International prices of Isomer grade Mixed Xylene slightly increased for this week. Prices were assessed in the range of USD 6550675/MTS with a increase of USD 5/MTS in compare to last week’s closing values.
• CFR SE Asia prices were assessed in the range of USD 67--690/MT with an increase of USD 5/MTS in compare to last week’s assessed values.
• There has been rise in values for Mixed Xylene and Toluene in China market on back of introduction of consumption tax on mixed aromatics. The consumption tax which is expected to be imposed on light cycle oil and all will curb the inflow of the products. The mixed aromatic are exclusively used as a gasoline blendstock, it is expected to increase the demand for alternative blendstocks such as toluene, MX and, possibly MTBE, if mixed aromatics imports become uneconomical.
• India’s leading petrochemical company RIL will make its first consignment of Para Xylene exported to China from its second phase of its plant at Jamnagar. The new unit has the production capacity of 2.2 mln mt/year. Of the 35,000 mt of PX due to load from Sikka in Gujarat on the MT Bunga Angelica, 15,000 mt will be discharged at Dalian in China under term contracts. The rest will form part of Reliance's regular shipments to the region.
• Throughout the week oil prices remained volatile. As per recent records oil prices reduced sharply.WTI from $53 a barrel, down to $48 while Brent declined from $55 to $51. The falling oil means weakening of economy, the reality is that oil is being driven by increased supply. On Thursday oil prices have plunged as the resume of two key Libyan oilfields and concerns about dreary gasoline demand fed concern over whether major oil producers can lessen the glut of global inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.97/bbl, prices have increased by $0.65/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.38/bbl in compared to last trading and was assessed around $51.44/bbl.
• As per market analyst As gas prices dropped, it created an undertow for the entire crude oil market. The outlook for oil prices will remain unstable. Decline in crude prices and therefore petroleum product prices also means corresponding reduction in prices of some of the raw materials for the petrochemical industry. Hence, it can be a factor in improving the profitability of that industry.

$1 = Rs. 64.24
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85