C9 Weekly Report 11 March 2017

Weekly Price Trend: 06-03-2017 to 10-03-2017

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 slightly decreased for this week. Prices were assessed at the level of Rs.51/Kg for bulk quantity by closing of market.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices reduced slightly for this week. Prices were assessed at the level of Rs.51/Kg for bulk quantity.
• This week C9 prices reduced slightly for this week. CIF India prices were assessed at the level of USD 740-760/MTS, reduced by USD 10/MTS in compare to last assessed values.
• There has been toppling of crude values in this week. In last five days US oil prices  plunge by 7.5% while Brent oil sink by 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
• According to reports, declining oil prices have helped U.S. and global energy companies to get back into the investing mode but yet experts believe that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.
• Market players foresee for OECD oil stocks to decline significantly this year will help the large OPEC cuts and robust global demand growth, to consider the recent drop in crude oil prices to be a good opportunity to enter into bullish option structures.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $49.28/bbl, prices have decreased by $1.00/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.92/bbl in compared to last trading and was assessed around $52.19/bbl.

$1 = Rs. 66.60
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00