N Hexane Weekly Report 04 March 2017

Weekly Price Trend: 27-02-2017 to 03-03-2017

• The above given graph focuses on the N Hexane price trend for the current week.
• Prices were assessed at the level of Rs.58/Kg in this week.
• By end of the week prices were assessed around Rs.54/Kg for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• This week N hexane prices remained unchanged and were assessed around Rs.58/Kg for bulk quantity.
• CIF India prices of N Hexane were assessed at the level of USD 740-760/MTS, with an increase of USD 30/MTS in compare to last week’s assessed values.
• Oil prices remained variable throughout his week. Oil prices headed lower on Thursday to log their lowest finish in last three weeks, as U.S. government data showed that domestic crude inventories hit a record production and production edged higher last week.
• Petro China of Dalian Petrochemical is planning to shut its aromatic unit for maintenance turnaround. The unit is likely to undergo maintenance on 17th March and is expected to remain off-stream for around 45 days. The unit is based at Dalian in China and has the production capacity of  2,90,000 mt/year of benzene, 3,52,000 mt/year of toluene and 4,40,000 mt/year of mixed xylenes. 
• As per market sources, the high crude stockpile levels in the U.S. is the one of the major reasons behind oil’s recent inability.
• On Friday, oil prices rose as the United States imposed sanctions on some Iranian individuals and entities.
• The increasing U.S. crude output in recent months has largely offset the continuing production cuts by the OPEC and Russia. The two counterforce’s are keeping prices in a slim range, said by analysts.
• Market predictors are anticipating that the respite to continue for more weeks with the next major price mover likely to be OPEC’s meeting at the end of May in which members will decide whether to extend the cuts beyond the initial six-month period.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $52.61/bbl, prices have decreased by $1.22/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.28/bbl in compared to last trading and was assessed around $55.08/bbl.

$1 = Rs. 66.81
Import Custom Ex. Rate USD/INR: Rs. 67.65
Export Custom Ex. Rate USD/INR: Rs. 66.00