N hexane Weekly Report 19 May 2018

Weekly Price Trend: 14-05-2018 to 18-05-2018

• The above given graph focuses on the N Hexane price trend for the current week.
• Prices were assessed at the level of Rs.63/Kg in this week, remained vulnerable in compare

to last week’s closing values.

Booking Scenario

INDIA& INTERNATIONAL

• This week N hexane prices remained soft-to-stable in domestic market. Prices were assessed around Rs.63/Kg for bulk quantity.
• CIF India values were assessed in the range of USD 870-890/MT, increased by USD 20/MTS for this week.
• PTT Global Chemical is planning to shut its cracker no1 for maintenance turnaround. The cracker will undergo maintenance in September 2018. The unit is likely to remain off-stream 40 days. The unit is based at Map Ta Phut in Thailand and has the production capacity of 460,000 mt/year and a propylene production capacity of 125,000 mt/year.
• This week crude oil prices escalated. Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall because of renewed U.S. sanctions, reducing supply in an already tightening market.
• On Thursday, closing crude values have increased. WTI on NYME closed at $71.49/bbl; prices have increased remained firm in compared to last closing prices. While Brent on InterContinental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $79.30/bbl.
• As per market report, The potential loss of 1 million barrels of Iranian crude from the world market and the ongoing decline of Venezuela's oil sector could push oil prices beyond $100/b. Global inventories of crude oil and refined products dropped sharply in recent months owing to robust demand and OPEC-led production cuts.
• Several banks have in recent days raised their oil price forecasts, citing tighter supplies and strong demand. Shell said it was halting crude exports from a major Nigerian pipeline.
• French petrochemical firm Total said that it may pull out all its investments from Iran where again sanctions has been imposed by US unless the sanctions relief is provided to the firm.
• Total has invested in Iran in South Pars along with Chinese firm CNPC and Iranian firm Petropars. Total itself holds 50.1% stake in South Pars Phase 11 with China’s state-owned CNPC owning 30% and Iran's Petropars 19.9%.

$1 = Rs. 68.00
Import Custom Ex. Rate USD/INR: Rs. 68.65
Export Custom Ex. Rate USD/INR: Rs. 66.95