N Hexane Weekly Report 24 June 2017

Weekly Price Trend: 19-06-2017 to 23-06-2017

• The above given graph focuses on the N Hexane price trend for the current week.
• Prices were assessed at the level of Rs.46/Kg in this week, reduced by Rs.1/Kg for bulk quantity.
• By end of the week prices were assessed around Rs.46/Kg for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• This week N hexane prices reduced in domestic market. Prices were assessed around Rs.46/Kg for bulk quantity.
• Prices in international market declined as well. CIF India prices of N Hexane were assessed at the level of USD 650-670/MTS, with no change in compare to last week’s assessed values.
• This week oil prices followed mixed trend. The oil market posted its worst performance in the first six months in last two decades effectively signaling its refusal to accept the effectiveness of the OPEC statement and its desire for further production cuts.
• As per report, OPEC and Russia tried to stabilize prices with cuts at around $50-$60 per barrel, but this week Brent prices fell toward $44 per barrel on persistent oversupply worries.
• On Thursday Crude oil rose moderately following a Wednesday in which the commodity bottomed just above $42 per barrel.
• On Thursday, closing crude values have increased.WTI on NYME closed at $42.74/bbl, prices have increased by $0.21/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.40/bbl in compared to last trading and was assessed around $45.22/bbl.
• OPEC ministers and officials have said the cartel would not rush to deepen production cuts from the current four percent to arrest the price decline. They said the group would rather wait until existing joint cuts with non-OPEC Russia finally result in a global stocks decline during the third quarter when demand for crude oil is usually strong.
• OPEC and Russian sources also told that there were few signs the group is preparing any extraordinary action ahead of a joint ministerial monitoring committee meeting in Russia at the end of July.

$1 = Rs. 64.52
Import Custom Ex. Rate USD/INR: Rs. 65.15
Export Custom Ex. Rate USD/INR: Rs. 63.50