C9 Weekly Report 31 March 2017

Weekly Price Trend: 27-03-2017 to 31-03-2017

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

Total import at various ports in the month of February 2017

The above chart depicts the import of C9 at various ports of India in the month of February 2017.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices reduced slightly for this week. Prices were assessed at the level of Rs.48/Kg for bulk quantity.
• This week C9 prices remained unchanged. CIF India prices were assessed at the level of USD 690-710/MTS.
• This week with little volatility prices remained on the higher note along with high expectations of extended supply cut. Brent and WTI crude both were assessed above $50 per barrel. Crude prices remained over 4 percent higher than they were on Tuesday. On Thursday prices have escalated as Kuwait gave its backing for an extension of OPEC production cuts in an attempt to reduce global oversupply.
• Market players said that oil prices will remain on higher note as OPEC and non-OPEC oil producing giants like Russia are likely to continue their production cut deal seeking to drive prices higher.
• There remains doubt that the output cuts will go deep enough for the world's bloated markets to leading to tightening of supply soon and significantly lift prices, especially as other producers that are not part of the agreement could step in to fill the supply gap. Moreover some players have said that there is a tremendous amount of stock in the markets and to expect a major increase in the price is not very realistic
• On Thursday, closing crude values have increased.WTI on NYME closed at $50.35/bbl, prices have increased by $0.84/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.54/bbl in compared to last trading and was assessed around $52.96/bbl.

$1 = Rs. 64.85
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50