C9 Weekly Report 30 Dec 2017

Weekly Price Trend: 25-12-2017 to 29-12-2017

• The above given graph focuses on the C9 price trend for the current week.
• Domestic prices of C9 remained stable to firm for this week. Prices were assessed at the level of Rs.48/Kg for bulk quantity by closing of market.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices remained stable for this week. Prices were assessed at the level of Rs.48/Kg for bulk quantity.
• Prices in international market remained weak for this week. CIF India prices were assessed at the level of USD 720-740/MTS, reduced by USD 20/MTS in compare to last week’s closing values.

This week crude oil prices have remained fluctuating. As 2017 draws to a close, On Thursday oil prices increased on lifted by strong data from top importer China and on increased U.S. refining activity that drew more crude from inventories. Recently,  thin trading activity ahead of the New Year weekend.

As per report, market condition has been tight due to ongoing supply cuts led by OPEC, as well as top producer Russia.

On Thursday, closing crude values have increased. WTI on NYME closed at $59.84/bbl; prices have increased by $0.20/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.28/bbl in compared to last trading and was assessed around $66.72/bbl.

As per market analyst, In the first half of 2018, market will remain quite bullish as Saudi Arabia continues to signal its intent to privatize part of Saudi Aramco, the state-owned oil company, in an initial public offering expected in late 2018. As such, the Saudis will be quite motivated to keep prices up going into that sale. The risk to that outlook could become apparent if Russia stops cooperating, which has been a significant tipping factor in the cuts' effectiveness.

1$ = Rs. 63.87
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.20