EDC Weekly Report 29 July 2017

Weekly Price Trend: 24-07-2017 to 28-07-2017
 

• The above graph focuses on the weekly price trend of EDC for the current week.
• As per the above graph, it has been inferred that this week the prices of EDC have remained firm in compare to previous week and at the end of this week prices were assessed at the level of Rs 19/kg.

 Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have remained firm in compare to previous week and were assessed at Rs 19/kg.
• In international market, prices of EDC also have remained firm in compare to earlier week.
• Presently EDC market is moving with soft velocity demand sentiments have been resilient from end users.

• This week oil prices have followed up trend. On Thursday oil prices have boosted 8 weeks high on a hope that a steeper-than-expected decline in U.S. crude oil inventories will reduce global oversupply.
• On Thursday, closing crude values have increased.WTI on NYME closed at $49.04/bbl, prices have increased by $0.29/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.52/bbl in compared to last trading and was assessed around $51.49/bbl.
• As per report, U.S. crude stocks fell sharply last week as refineries increased output and imports declined, while gasoline stocks decreased and distillate inventories fell.
• Some players said that expectations that the long-oversupplied market is moving towards balance were also supported news that Saudi Arabia plans to limit crude exports to 6.6 million barrels per day (bpd) in August, about 1 million bpd below the level last year.

$1 = Rs. 64.16
Import Custom Ex. Rate USD/ INR: 65.20
Export Custom Ex. Rate USD/ INR: 63.50