C9 Weekly Report 16 Dec 2017

Weekly Price Trend: 11-12-2017 to 15-12-2017

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 remained unchanged 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 750-770/MTS, remained stable in compare to last week’s closing values.
• This week crude oil prices have followed mixed trend. On Thursday oil prices rose as a pipeline outage in Britain continued to support prices despite forecasts showing global crude surplus in the beginning of next year.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.04/bbl; prices have increased by $0.44/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.87/bbl in compared to last trading and was assessed around $63.31/bbl.
• While on Friday, Oil markets were stable as the Forties pipeline outage in the North Sea and the ongoing OPEC-led production cuts supported prices, while rising output from the United States kept crude from rising further.
• Traders said markets were overall well supported by efforts led by OPEC and Russia to withhold supply to prop up prices.
• As per market report, the oil market to have a surplus of 200,000 barrels per day in the first half of next year before reverting to a deficit of about 200,000 bpd in the second half. That means 2018 overall should show closely balanced market.

1 $= Rs. 64.04
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70