C9 Weekly Report 21 July 2018

Weekly Price Trend: 16-07-2018 to 20-07-2018

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 remained firm for this week. Prices were assessed at the level of Rs.63/Kg for bulk quantity by closing of market.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices remained firm for this week. Prices were assessed at the level of Rs.63/Kg for bulk quantity.
• Prices in international market slightly weakened for this week. CIF India prices were assessed at the level of USD 870-890/MTS in this week.
• Moreover monsoon has started in India. The western part of India is receiving heavy rainfall which in turn has led to slowdown in imports along with limited supply.
• This week oil prices have followed mixed trend. On Thursday, Brent crude fell as concerns about mounting supply returned after a brief rally on comments that Saudi Arabia's exports would fall in August. Crude also strengthened on forecasts that inventories at the U.S. oil delivery hub for WTI in Cushing, Oklahoma fell 1.8 million barrels, or 6.2 percent.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $69.46/bbl; prices have increased by $0.70/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.32/bbl in compare to last closing price and was assessed around $72.58/bbl.
• As per report, Saudi Arabia expects its crude exports to drop by roughly 100,000 bpd in August as the kingdom limits excess production.
• As per report, Saudi Arabia's crude oil exports in July would be roughly equal to June levels. Despite international oil markets being well balanced in the third quarter, there would still be substantial stock draws due to robust demand.

1$ = Rs. 68.87
Import Custom Ex. Rate USD/ INR: 69.60
Export Custom Ex. Rate USD/ INR: 67.90