C9 Weekly Report 10 March 2018
Weekly Price Trend: 05-03-2018 to 09-03-2018
- 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.52/Kg for bulk quantity by closing of market.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices remained firm for this week. Prices were assessed at the level of Rs.52/Kg for bulk quantity.
- Prices in international market remained unchanged for this week. CIF India prices were assessed at the level of USD 770-790/MTS.
- This week oil prices have remained volatile. On Thursday oil prices fell headed for a second straight weekly drop on a stronger dollar, signs of an inventory build at the U.S. storage hub in Cushing, Oklahoma, surging U.S. crude production and investor jitters about a potential trade war.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $60.12/bbl; prices have decreased by $1.03/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.73/bbl in compared to last trading and was assessed around $63.61/bbl.
- On Friday, crude oil futures rose as Asian stock markets gained on North Korean leader Kim Jong Un will meet with U.S. President Donald Trump.
- As per report, U.S. crude output is expected to surge beyond 11 million bpd by late 2018, limiting the effectiveness of output cuts by the Organization of the Petroleum Exporting Countries, Russia and other producers.
1$ = Rs. 65.16
Import Custom Ex. Rate USD/ INR: 66.10
Export Custom Ex. Rate USD/ INR: 64.40
