C9 Weekly Report 02 Dec 2017

Weekly Price Trend: 27-11-2017 to 01-12-2017

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 remained weak for this week. Prices were assessed at the level of Rs.50/Kg for bulk quantity by closing of market.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices reduced heavily for this week. Prices were assessed at the level of Rs.50/Kg for bulk quantity.
• Prices in international market remained soft-to-stable for this week. CIF India prices were assessed at the level of USD 740-760/MTS, reduced by USD10/MTS in compare to last week’s closing values.
• This week crude oil prices have followed mixed trend. On Thursday oil prices have escalated OPEC members, Russia and nine other producers agreed to extend a deal to limit their production through 2018.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.40/bbl; prices have decreased by $0.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.46/bbl in compared to last trading and was assessed around $63.57/bbl
• As per report, the producers will indeed review the deal at the next OPEC meeting in June. Some markets were concerned that a nine-month extension could cause markets to quickly tighten, leading to undersupply that results in a price spike. Oil watchers also warn that a rise in prices will give U.S. shale drillers an incentive to flood the market. Russia has expressed concern that its oil companies will continue to lose market share to American producers, who are exporting record levels of crude.

1 = Rs. 64.46
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50