C9 Weekly Report 24 June 2017

Weekly Price Trend: 19-06-2017 to 23-06-2017

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 increased fort this week. Prices were assessed at the level of Rs.45./Kg for bulk quantity by closing of market.

Total import at various ports in the month of May 2017

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

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices increased for this week. Prices were assessed at the level of Rs.45/Kg for bulk quantity.
• There has been rise in international prices in compare to last week’s closing values. CIF India prices were assessed at the level of USD 710-730/MTS.
• This week oil prices followed mixed trend. The oil market posted its worst performance in the first six months in last two decades effectively signaling its refusal to accept the effectiveness of the OPEC statement and its desire for further production cuts.
• As per report, OPEC and Russia tried to stabilize prices with cuts at around $50-$60 per barrel, but this week Brent prices fell toward $44 per barrel on persistent oversupply worries.
• On Thursday Crude oil rose moderately following a Wednesday in which the commodity bottomed just above $42 per barrel.
• On Thursday, closing crude values have increased.WTI on NYME closed at $42.74/bbl, prices have increased by $0.21/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.40/bbl in compared to last trading and was assessed around $45.22/bbl.
• OPEC ministers and officials have said the cartel would not rush to deepen production cuts from the current four percent to arrest the price decline. They said the group would rather wait until existing joint cuts with non-OPEC Russia finally result in a global stocks decline during the third quarter when demand for crude oil is usually strong.
• OPEC and Russian sources also told that there were few signs the group is preparing any extraordinary action ahead of a joint ministerial monitoring committee meeting in Russia at the end of July.

$1 = Rs. 64.52
Import Custom Ex. Rate USD/ INR: 65.35
Export Custom Ex. Rate USD/ INR: 63.70