C9 Weekly Report 28 July 2018

Weekly Price Trend: 23-07-2018 to 27-07-2018

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 remained firm for this week. Prices were assessed at the level of Rs.62/Kg for bulk quantity by closing of market.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices remained firm for this week. Prices were assessed at the level of Rs.62/Kg for bulk quantity.
• Prices in international market reduced slightly for this week. CIF India prices were assessed at the level of USD 860-880/MTS in this week.
• Moreover monsoon has started in India. The western part of India is receiving heavy rainfall which in turn has led to slowdown in imports along with limited supply.
• Crude prices have been on increasing trend for this week.  On Wednesday US government released the dats regarding the low inventory levels of crude. The inventory levels have reduced at max since 2015. With low inventory the worries about oversupply has now reduced which has affected the market in last few weeks.
• Oil prices rose on Thursday as Saudi Arabia suspended its shipments through strait in the Red Sea following an attack on two oil tankers by Yemen.
• Brent futures rose 61 cents to settle at $74.54 a barrel, a 0.8 percent gain. The contract earlier touched $74.83 a barrel, highest since July 16. U.S. West Texas Intermediate (WTI) crude futures were up 31 cents, settling at $69.61, a 0.5 percent gain.

1$ = Rs. 68.65
Import Custom Ex. Rate USD/ INR: 69.60
Export Custom Ex. Rate USD/ INR: 67.90