N Hexane Weekly Report 31 March 2017

Weekly Price Trend: 27-03-2017 to 31-03-2017

• The above given graph focuses on the N Hexane price trend for the current week.
• Prices were assessed at the level of Rs.49/Kg in this week, reduced by Rs.1/Kg for bulk quantity.
• By end of the week prices were assessed around Rs49/Kg for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• This week N hexane prices reduced heavily in domestic market and were assessed around Rs.50/Kg for bulk quantity.
• On contrary, CIF India prices of N Hexane were assessed at the level of USD 670-690/MTS, with an decrease of USD 20/MTS in compare to last week’s assessed values.
• This week with little volatility prices remained on the higher note along with high expectations of extended supply cut. Brent and WTI crude both were assessed above $50 per barrel. Crude prices remained over 4 percent higher than they were on Tuesday. On Thursday prices have escalated as Kuwait gave its backing for an extension of OPEC production cuts in an attempt to reduce global oversupply.
• Market players said that oil prices will remain on higher note as OPEC and non-OPEC oil producing giants like Russia are likely to continue their production cut deal seeking to drive prices higher.
• There remains doubt that the output cuts will go deep enough for the world's bloated markets to leading to tightening of supply soon and significantly lift prices, especially as other producers that are not part of the agreement could step in to fill the supply gap. Moreover some players have said that there is a tremendous amount of stock in the markets and to expect a major increase in the price is not very realistic
• On Thursday, closing crude values have increased.WTI on NYME closed at $50.35/bbl, prices have increased by $0.84/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.54/bbl in compared to last trading and was assessed around $52.96/bbl.

$1 = Rs. 64.85
Import Custom Ex. Rate USD/INR: Rs. 66.20
Export Custom Ex. Rate USD/INR: Rs. 64.50