N Hexane Weekly Report 15 Sep 2018

Weekly Price Trend: 10-09-2018 to 14-09-2018

• The above given graph focuses on the N Hexane price trend for the current week.
• Prices were assessed at the level of Rs.70/Kg in this week, increased in compare to last week’s closing values.

Booking Scenario

INDIA& INTERNATIONAL

• This week N hexane prices remained firm in domestic market. Prices were assessed around Rs.70/Kg for bulk quantity.
• There has been continuous depreciation of Indian currency against dollar. The impact is due to rise in crude values in international market. To deepen the sorrows the sanction against Iran by US further hammered the currency rate of many nations. Turkey is on the verge of failing of economy. This in turn has led to increase in petrochemical prices and crude values.
• Traders are really feeling the heat of depreciating currency and are unable to make any guesses or make opinions about the falling rupee.
• Oil prices crossed the levels of USD80 by mid of the week, later it fell by more than 2% on Thursday. This hike was the highest in last four months. The international Energy Agency has already warned that the oil market is tightening at the moment and world oil demand would soon reach 100 million barrels per day (bpd) in the next three months, global economic risks were mounting.
• U.S. companies in China are being hurt by tariffs in the growing trade war between Washington and Beijing, according to a survey, prompting U.S. business lobbies to urge President Donald Trump's administration to reconsider its approach.
• The White House has invited Chinese officials to restart trade talks just as it prepares to escalate a trade war with China with tariffs on $200 billion worth of Chinese goods.
• The other major factor is the loss of Iranian oil to the market as refiners are cutting or halting purchase ahead of U.S. sanctions in November is also raising concerns about supply.
• All these factor has put an rigorous pressure on petrochemical industry and has led to hike in the prices of crucial petrochemical products.

$1 = Rs. 71.84
Import Custom Ex. Rate USD/INR: Rs. 72.55
Export Custom Ex. Rate USD/INR: Rs. 70.85