Mixed Xylene Weekly Report 29 Sep 2018

Weekly Price Trend: 24-09-2018 to 28-09-2018

• The above given graph focuses on the Mixed Xylene price trend for the current week.
• Domestic prices ofMixed Xylene remained stable to firm for this week. Prices were assessed at the level of Rs.70/Kg for Mumbai and Rs.69/Kg for Kandla port.

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.69/Kg at Kandla port and Rs.70/Kg 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 905-920/MT increased by USD 20/MT for this week.
• CFR SEA values were assessed in the range of USD 930/MTS increased by USD 20/MT for this week.
• China market will remain closed for next week as the nation will be celebrating Golden week festival.
• Continuous surge in crude prices has heated the global oil market. Crude prices are likely to cross the mark of USD 100 in next few weeks.
• According to Petrochemical giant Total, the supply disruptions and the delay time associated with OPEC’s ability to increase production could pull up the price to $100 per barrel. This in turn will hamper the economy and the oil industry.
• Disruptions in supply coming from Iran, Venezuela, and Libya give strong support to oil prices and they may head into triple-digit territory. On the other hand, although OPEC has assured to boost production, but output hasn’t increased so much. Saudi Arabia has capacity of 11 million bpd, but boosting production from current levels would need time, because they have to mobilize rigs.
• US Sanctions will surely trigger a dramatic shortfall in global supply. And the sanctions are widely expected to have an immediate impact on Iran's oil exports, although estimates of exactly how much of the country's oil could disappear from November 4 vary widely.
• Some energy market analysts expect around 500,000 barrels per day (bpd) to disappear once U.S. sanctions against Iran come into force, while others have warned as much as 2 million bpd could come offline over the coming months.

$1 = Rs. 72.48
Import Custom Ex. Rate USD/ INR: 73.65
Export Custom Ex. Rate USD/ INR:  71.95