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C9 Weekly Report 20 May 2017

Weekly Price Trend: 15-05-2017 to 19-05-2017

 

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

Total import at various ports in the month of April 2017

The above chart depicts the import of C9 at various ports of India in the month of April 2017.

Booking Scenario

INDIA& INTERNATIONAL

  • Domestic prices remained unchanged for this week. Prices were assessed at the level of Rs.43/Kg for bulk quantity.
  • There has been improvement in international prices in compare to last week’s closing values. CIF India prices were assessed at the level of USD 640-660/MTS, with an increase of USD 10/MTS for this week.
  • This week overall crude oil prices plunged with little instability Recent announcements by Russia and Saudi Arabia have helped oil prices to recover and several analysts have highlighted the energy sector as a potential play for investors.
  • According to recent reports, Russia and Saudi Arabia has announced about the cut in supply of oil to be extended for another nine months i.e till arch 2018.are likely tp discuss this matter in their next meeting.
  • Experts from tm the oil market believe that Russia and other major producers could help drive oil prices back to $60 per barrel or more with a new production deal, but again that would be a green signal for U.S. shale drillers. This drive even could bring the oil to range in $60 oil the end of the year, but the gains are not expected to spike much higher.
  • On Thursday, closing crude values have increased.WTI on NYME closed at $49.35/bbl, prices have increased by $0.28/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.30/bbl in compared to last trading and was assessed around $52.51/bbl.

$1 = Rs. 64.64
Import Custom Ex. Rate USD/ INR: 65.30
Export Custom Ex. Rate USD/ INR: 63.60