Mixed Xylene Weekly Report 30 Dec 2017

Weekly Price Trend: 25-12-2017 to 29-12-2017

The above given graph focuses on the Mixed Xylene price trend for the current week.

• Domestic prices of Mixed Xylene remained stable-to-firm for this week. Prices were assessed at the level of Rs.49/Kg for Mumbai port and Kandla port.      

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.49/Kg at Kandla port and for Mumbai port.
• International prices of Isomer grade Mixed Xylene increased for this week. Prices were assessed in the range of USD 710-730/MTS, with no change in compares to last week’s closing values.
• CFR SE Asia prices were assessed around USD 740/MT, remained unchanged for this week.

This week crude oil prices have remained fluctuating. As 2017 draws to a close, On Thursday oil prices increased on lifted by strong data from top importer China and on increased U.S. refining activity that drew more crude from inventories. Recently,  thin trading activity ahead of the New Year weekend.

As per report, market condition has been tight due to ongoing supply cuts led by OPEC, as well as top producer Russia.

On Thursday, closing crude values have increased. WTI on NYME closed at $59.84/bbl; prices have increased by $0.20/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.28/bbl in compared to last trading and was assessed around $66.72/bbl.

As per market analyst, In the first half of 2018, market will remain quite bullish as Saudi Arabia continues to signal its intent to privatize part of Saudi Aramco, the state-owned oil company, in an initial public offering expected in late 2018. As such, the Saudis will be quite motivated to keep prices up going into that sale. The risk to that outlook could become apparent if Russia stops cooperating, which has been a significant tipping factor in the cuts' effectiveness.

$1 = Rs. 63.87
Import Custom Ex. Rate USD/ INR: 64.90

Export Custom Ex. Rate USD/ INR: 63.20