N Hexane Weekly Report 22 April 2017

Weekly Price Trend: 17-04-2017 to 21-04-2017

• The above given graph focuses on the N Hexane price trend for the current week.
• Prices were assessed at the level of Rs.51/Kg in this week, with an increase of Rs.1/Kg for bulk quantity.
• By end of the week prices were assessed around Rs.51/Kg for bulk quantity.

Total import at various ports in the month of March 2017

The above chart depicts the import of N Hexane at various ports of India in the month of March 2017.

Booking Scenario

INDIA& INTERNATIONAL

• This week N hexane prices improved in domestic market and were assessed around Rs.51/Kg for bulk quantity.
• Similar scenario was observed in the international market. CIF India prices of N Hexane were assessed at the level of USD 660-690/MTS, with an decrease of USD 20/MTS in compare to last week’s assessed values.
• Severe volatility was observed in the crude prices for this week. Still the market sentiments by end of the week remained strong with prompting crude prices to close on higher note. Yesterday some stability was seen global oil market as demand and supply was on matching hand due to fall in the stockpiles in developed nations in the month of March.
• According to recent reports, the market has been oversupplied since last three years, prompting members of the OPEC and some non-OPEC producers to agree to cut output in the first six months of 2017 to rein in the glut. OPEC meets on May 25 to consider extending the cuts beyond June.
• On other side there has been continuous rise in oil production in U.S., both onshore and offshore, which will act as a headwind for the market.
• As per market analyst, refinery runs are picking up, and driving season is around the corner, so inventories will start going down soon. Amid so much uncertainty, the only thing that is certain is that crude oil production is growing, and there are no signs that this will change while the going is good and prices stay above $50 a barrel.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.18/bbl, prices have increased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $55.89/bbl.

 
$1 = Rs. 64.61
Import Custom Ex. Rate USD/INR: Rs. 65.55
Export Custom Ex. Rate USD/INR: Rs. 63.85