C9 Weekly Report 12 May 2018

Weekly Price Trend: 07-05-2018 to 11-05-2018

• 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.57.5/Kg for bulk quantity by closing of market.

Booking Scenario

INDIA& INTERNATIONALs

• Domestic prices remained firm for this week. Prices were assessed at the level of Rs.57.5/Kg for bulk quantity.
• Prices in international market remained stable for this week due to sudden hike in crude values. CIF India prices were assessed at the level of USD 800-820/MTS with no change in this week.
• This week with the little volatility oil prices have escalated sharply. On Thursday as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $69.06/bbl; prices have decreased by $1.67/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.32/bbl in compared to last trading and was assessed around $74.85/bbl.
• The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies, after dump an agreement reached in late 2015 which limited Tehran's nuclear ambitions in exchange for removing U.S.-Europe sanctions.
• As per analysts oil prices to rise to $80-$100 per barrel later this year, once U.S. sanctions start to bite and Iran's exports start sinking. Market players said that OPEC will step up output in order to counter the Iran disruption."The market is now focused on OPEC and other producers' ability to react to this potential supply disruption,"
• "Investors are increasingly viewing Kuwait and Iraq as the producers with the best ability to raise output quickly in response to any fall in Iranian exports.

1$ = Rs. 67.33
Import Custom Ex. Rate USD/ INR: 67.50
Export Custom Ex. Rate USD/ INR: 65.80