C9 Weekly Report 22 July 2017

Weekly Price Trend: 17-07-2017 to 21-07-2017

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

Total import at various ports in the month of June 2017

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

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices remained unchanged for this week. Prices were assessed at the level of Rs.44.5/Kg for bulk quantity.
• There has been slight decline in international prices in compare to last week’s closing values. CIF India prices were assessed at the level of USD 620-640/MTS.
•  This week oil prices have followed volatile trend in the market. Oil prices jumped more than 1 percent on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories. 
• On Thursday, oil settled lower in uneven trading. Closing crude values have decreased.WTI on NYME closed at $46.92/bbl, prices have decreased by $0.40/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $49.30/bbl.
• Russia is ready to continue working with OPEC to help rebalance oil markets, Moscow welcomed a flexible approach by OPEC's leader Saudi Arabia to accommodate rising output from Nigeria and Libya, said by source.
• Market players predicted that prices would hold near current levels ahead of Monday's meeting between key OPEC and non-OPEC producers in St. Petersburg, Russia. The market has been watching reports that Saudi Arabia, the world's largest crude producer, is considering an additional supply cut to reduce the global glut.
• Hanwha Total has shut down its naphtha cracker due to power outages caused by a lightning strike. It happened in afternoon with no casualities being reported. The lightning strike happened in the afternoon at its plant in Daesan, some 130 kilometres (about 81 miles) southwest of Seoul,

$1 = Rs. 64.32
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95