C9 Weekly Report 20 Jan 2018
Weekly Price Trend: 15-01-2018 to 19-01-2018
- The above given graph focuses on the C9 price trend for the current week.
- Domestic prices of C9 remained stable to firm for this week. Prices were assessed at the level of Rs.49/Kg for bulk quantity by closing of market.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices increased slightly for this week. Prices were assessed at the level of Rs.49/Kg for bulk quantity.
- Prices in international market remained soft-to-stable for this week. CIF India prices were assessed at the level of USD 740-760/MTS, reduced by USD 10/MTS in compare to last week’s closing values.
- Oil prices have followed volatile trend this week. On Thursday Oil rebounded after slipping below $69 a barrel, supported by a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub, despite concerns that OPEC-led output cuts will increase supply from the United States.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $63.95/bbl; prices have decreased by $0.02/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.07/bbl in compared to last trading and was assessed around $69.31/bbl.
- As per report, the upside is now limited for oil prices. U.S. oil producers will ramp up production in the coming months. Some traders said that prices were unlikely to fall far due to the OPEC-led curbs and the risk of further disruptions.
1$ = Rs. 63.85
Import Custom Ex. Rate USD/ INR: 64.80
Export Custom Ex. Rate USD/ INR: 63.10
