C9 Weekly Report 27 Oct 2018

Weekly Price Trend: 22-10-2018 to 26-10-2018

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 remained firm and reduced slightly for this week. Prices were assessed at the level of 64/kg for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices reduced by Rs.1/Kg for this week. The decline 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.
• Oil prices reduced on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand.
• "Bearish sentiment could force a re-test of support in the low $70.0 per barrel range.
• The market may shift towards an oversupply situation as evidenced by rising inventories over the past few weeks.
• U.S. crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said this week.
• Financial markets have been hit hard by a range of worries, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields, and economic concerns in Italy.
• Washington is putting pressure on governments around the world to stop importing oil from Iran.

• Most, including its biggest customer China, are falling in line, and Iran has turned to storing its unsold oil on its tanker fleet in the hope that it can sell the crude off quickly once the sanctions are lifted again.

1$ = Rs. 73.46
Import Custom Ex. Rate USD/ INR:  74.30
Export Custom Ex. Rate USD/ INR:  72.60