C9 Weekly Report 28 Jan 2017

Weekly Price Trend: 23-01-2017 to 27-01-2017

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 reduced slightly for this week. Prices decreased by Rs.1/Kg and were assessed around Rs.53/Kg for bulk quantity on week closing.
• Prices were assessed around Rs.54/Kg by end of the week.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices reduced slightly for this week and were assessed at the level of Rs.53/Kg for bulk quantity.
• This week C9 prices increased slightly in international market. CIF India prices were assessed at the level of USD 750-770/MTS, with an increase of USD 5/MT in compare to last week’s closing values.
• Crude oil prices followed mixed trend throughout this week. On Thursday oil prices increased by ongoing rally in the U.S. stock market while gains were restricted by ample supplies and full inventories in spite of efforts by producers to cut output.
• As per recent report, U.S. crude oil production has increased by 6.3 percent in last six months.
• Again market players believe that rising U.S. output and inventories are probable to limit the impact of the agreement by the OPEC and other producers, including Russia, to cut supplies in an effort to reduce a global glut. OPEC and other exporters have said they will reduce output by almost 1.8 million bpd during the first half of 2017 and many of those cuts have already been made.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.78/bbl, prices have increased by $1.03/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.16/bbl in compared to last trading and was assessed around $56.24/bbl.

$1 = Rs. 68.04
Import Custom Ex. Rate USD/ INR: 69.10
Export Custom Ex. Rate USD/ INR: 67.40