C9 Weekly Report 3 June 2017

Weekly Price Trend: 29-05-2017 to 02-06-2017

• 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.44.5/Kg for bulk quantity by closing of market.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices increased for this week. Prices were assessed at the level of Rs.44.5/Kg for bulk quantity.
• There has been no change in international prices in compare to last week’s closing values. CIF India prices were assessed at the level of USD 650-670/MTS, with no change in prices for this week.
• This week oil prices remained highly volatile. With a firm decision taken last week by OPEC, Russia and other producers to extend their agreement to curb output by 1.8 million barrels a day for another nine months, in order to rebalance the oil market, the bearish tone in the oil sector resurfaced.
• According to reports, U.S. oil supplies dropped by 6.4 million barrels last week, a positive for the market and a much bigger decline than expected. 
• On Thursday U.S. crude up slightly after a larger-than-expected domestic inventory drawdown.
• Closing crude values on Thursdayincreased.WTI on NYME closed at $48.36/bbl, prices have increased by $0.04/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $50.33/bbl.
• As per market report, U.S. production increased, and the expectation is that ongoing activity in U.S. shale will continue to boost output, offsetting OPEC efforts.

$1 = Rs. 67.63
Import Custom Ex. Rate USD/ INR: 65.35
Export Custom Ex. Rate USD/ INR: 63.70