C9 Weekly Report 20 Oct 2018

Weekly Price Trend: 15-10-2018 to 19-10-2018

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 remained firm and have increased significantly for this week. Prices were assessed at the level of 66/kg for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices increased by Rs.1/Kg for this week. The rise has been in all major petrochemical products in domestic market on back of limited supply along with rising of crude prices.
• Prices in international market remained stable for this week. CIF India prices were assessed at the level of USD 890-910/MTS in this week.

• There has been significant decline in crude prices in last two weeks. Prices plunged by more than 11 % in last two weeks. Oil prices rose to nearly four-year highs at the start of October as there has been depletion in crude supply sue to US sanctions on Iran.
•  Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
• The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
• The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.

1$ = Rs. 73.32
Import Custom Ex. Rate USD/ INR:  74.30
Export Custom Ex. Rate USD/ INR:  72.60