Mixed Xylene Weekly Report 31 March 2018

Weekly Price Trend: 26-03-2018 to 30-03-2018

• 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.51.5/Kg for Mumbai port and Rs.51/Kg for Kandla port.      

Booking Scenario

INDIA

• Mixed Xylene prices were assessed around Rs.51/Kg at Kandla port and Rs.51.5/Kg for Mumbai port.
• International prices of Isomer grade Mixed Xylene reduced for this week. Prices were assessed in the range of USD 715-735/MTS reduced by USD 20/MTS in compares to last week’s closing values.
• This week crude oil prices have followed weak trend but on Thursday oil prices have escalated by 1 percent as the equities markets rallied and as market participants weighed a rise in U.S. crude inventories and production against continued OPEC supply curbs.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $64.94/bbl; prices have increased by $0.56/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $70.27/bbl.
• Market players said that strong compliance on supply cuts from members of The OPEC and allies like Russia have supported prices. OPEC sources said the group and its allies are likely to keep their deal on cutting output for the rest of 2018 when they meet in June.
• As per market report, China was taking its first steps to pay for imported crude oil in yuan instead of the U.S. dollar. This week marked the launch of the Shanghai crude oil futures contract.

$1 = Rs. 65.17
Import Custom Ex. Rate USD/ INR: 65.80
Export Custom Ex. Rate USD/ INR: 64.15