C9 Weekly Report 23 Dec 2017

Weekly Price Trend: 18-12-2017 to 22-12-2017

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 reduced slightly for this week. Prices were assessed at the level of Rs.48/Kg for bulk quantity by closing of market.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices reduced slightly for this week. Prices were assessed at the level of Rs.48/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 oil prices have followed mixed trend and closed on higher note. On Thursday, Oil prices higher, erasing earlier losses as Britain's Forties pipeline in the North Sea was expected to restart in early January after repairs over Christmas. Forties is the largest of the five North Sea crudes that underpin Brent, a benchmark for oil trading in Europe, the Middle East, Africa and Asia.
• On Thursday, closing crude values have increased. WTI on NYME closed at $58.36/bbl; prices have increased by $0.27/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.34/bbl in compared to last trading and was assessed around $64.90/bbl.
• As per market report, based on current estimates the company expects to bring the pipeline progressively back to normal rates early in the new year. Oil prices were also supported by falling crude inventories in the United States but capped by output that is fast approaching 10 million barrels per day.
• As me market predictors said that the first few months of 2018 to be either flat or a build in inventories, as it is typically the case with the seasonality in the oil market.

1$ = Rs. 64.04
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.20