In an interesting trend, traders as well as importers in India are being immensely benefited from the declining Mixed Xylene prices, in an environment dominated by strong demand, especially from the coating and pesticide industries. Price of the aromatic has softened in the country due to Crude Oil prices declining in international markets. Recently, Reliance Industries Limited reduced its ex-work price for the aromatic to Rs 68 a kg from Rs 71.50 a kg. Also, the import booking price has gone down to USD 940 a metric tonne from USD 1000 a metric tonne, on CFR South East Asia basis.
The bulk price also has declined from Rs 75.50 a kg to Rs 72.50 a kg, on ex-Mumbai basis.
The decline in import prices has benefited importers in the country as bookings of the aromatic have increased manifold, while, the domestic producer also has been seeing significant sales as its price is lower than the landing costs.
Market players speculated that the import price might go down further due to continuous Crude Oil price slippages.
(This article was published on the website on November 06, 2014)
The bulk price also has declined from Rs 75.50 a kg to Rs 72.50 a kg, on ex-Mumbai basis.
The decline in import prices has benefited importers in the country as bookings of the aromatic have increased manifold, while, the domestic producer also has been seeing significant sales as its price is lower than the landing costs.
Market players speculated that the import price might go down further due to continuous Crude Oil price slippages.
(This article was published on the website on November 06, 2014)
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