C9 Weekly Report 12 Aug 2017
Weekly Price Trend: 07-08-2017 to 11-08-2017
- The above given graph focuses on the C9 price trend for the current week.
- Domestic prices of C9 increased significantly for this week. Prices were assessed at the level of Rs.56/Kg for bulk quantity by closing of market.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices increased heavily for this week. Prices were assessed at the level of Rs.46/Kg for bulk quantity.
- Similar trends were observed in international prices in compare to last week’s closing values. CIF India prices were assessed at the level of USD 740-760/MTS.
- This week crude oil prices followed volatile trend and on Thursday market closed on weaker note. Oil prices fell more than 1.5 percent on Thursday, to hit two-week lows, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories.
- On Thursday, closing crude values have decreased.WTI on NYME closed at $48.59/bbl, prices have decreased by $0.97/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.80/bbl in compared to last trading and was assessed around $51.90/bbl.
- Investors were also keeping a close eye on the broad market impact of tensions between the United States and North Korea. Recently Crude oil prices failed to hold recent gains, with a nervous market starting to doubt recent falls in inventories.
- As per report, OPEC is curbing output by about 1.2 million bpd, while Russia and other non-OPEC producers cut half as much, until March 2018.
$1 = Rs. 64.13
Import Custom Ex. Rate USD/ INR: 64.55
Export Custom Ex. Rate USD/ INR: 62.85
