C9 Weekly Report 02 Sep 2017
Weekly Price Trend: 28-08-2017 to 01-09-2017
- The above given graph focuses on the C9 price trend for the current week.
- Domestic prices of C9 remained stable-to-firm for this week. Prices were assessed at the level of Rs.55/Kg for bulk quantity by closing of market.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices remained unchanged for this week. Prices were assessed at the level of Rs.55/Kg for bulk quantity.
- A significant rise was seen in international prices for C9. CIF India prices were assessed at the level of USD 780-800/MTS, gain of USD 30/MTS in compare to last week’s closing values.
- This week has been full of pains and agony due to natural calamities. On one side Texas has been facing the worst floods in the history of US. Houston and Louisiana has been the largely evacuated as floods has reached everywhere.
- The major petrochemical plants of the country are located on these sites. To take a precautionary action major companies like Exxon Mobil, LyondellBasel, Celanese and many more has shut down their units abruptly. Formosa has shut down its ports and units along with Dow chemical. Petrobras has shut down its Pasadena refinery. Shell has shut down its refinery and unit. Arkema reported explosion in its unit on Thursday.
- In India too, the heavy rainfall continue to maintain its fury. This time it was Gujarat and Maharashtra facing heavy rainfall and flood like situation. The major commercial city of India Mumbai has been hard hitten by heavy rainfall India. Mumbai was all over in water for 2 days paralyzing the city and its residents. All the transportation and city centers were closed due to heavy rainfall across the city.
- The international prices are likely to soar up as due to abrupt shut downs there will be limited supply of the chemicals across the international market.
- The major companies have not decided yet to when to resume their production. At first they are likely to check out to what extent there has been damage in their units and refineries.
$1 = Rs. 64.02
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45
