C9 Weekly Report 30 Sep 2017
Weekly Price Trend: 25-09-2017 to 29-09-2017
- The above given graph focuses on the C9 price trend for the current week.
- Domestic prices of C9 reduced slightly for this week. Prices were assessed at the level of Rs.61s/Kg for bulk quantity by closing of market.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices reduced for this week. Prices were assessed at the level of Rs.61/Kg for bulk quantity.
- Prices in international market reduced slightly for this week. CIF India prices were assessed at the level of USD 740-760/MTS, reduced by USD 10/MTS in compare to last week’s closing values.
- This week oil prices have followed mixed trend. Investors have really gained confidence in oil, after the OPEC cuts that were originally discussed earlier in the year are starting to take shape here, and oil production is being curbed.
- On Thursday, closing crude values have plunged.WTI on NYME closed at $51.56/bbl, prices have decreased by $0.58/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.49/bbl in compared to last trading and was assessed around $57.41/bbl. Due to the combination of production cuts and growing demand, oil could head up to its 2017 high, just above $55, or even $60 per barrel by year-end. A global supply glut has plagued the market for several years, and OPEC member countries and non-member producers have vowed to implement cuts to curb such oversupply.
$1 = Rs. 65.28
Import Custom Ex. Rate USD/ INR: 65.30
Export Custom Ex. Rate USD/ INR: 63.70
