N Hexane Weekly Report 16 Dec 2017

Weekly Price Trend: 11-12-2017 to 15-12-2017

• The above given graph focuses on the N Hexane price trend for the current week.
• Prices were assessed at the level of Rs.55/Kg in this week, remained unchanged in values in compare to last week’s closing values.
• By end of the week prices were assessed around Rs.55/Kg for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• This week N hexane prices remained stable-to-firm in domestic market. Prices were assessed around Rs.55/Kg for bulk quantity.
• CIF India values were assessed in the range of USD 810-830/MT increased by USD 60/MTS in compare to last week’s closing values.
• Slowdown in values has been due to weakening of demand in downstream products.
• This week crude oil prices have followed mixed trend. On Thursday oil prices rose as a pipeline outage in Britain continued to support prices despite forecasts showing global crude surplus in the beginning of next year.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.04/bbl; prices have increased by $0.44/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.87/bbl in compared to last trading and was assessed around $63.31/bbl.
• While on Friday, Oil markets were stable as the Forties pipeline outage in the North Sea and the ongoing OPEC-led production cuts supported prices, while rising output from the United States kept crude from rising further.
• Traders said markets were overall well supported by efforts led by OPEC and Russia to withhold supply to prop up prices.
• As per market report, the oil market to have a surplus of 200,000 barrels per day in the first half of next year before reverting to a deficit of about 200,000 bpd in the second half. That means 2018 overall should show closely balanced market.

$1 = Rs. 64.04
Import Custom Ex. Rate USD/INR: Rs. 65.40
Export Custom Ex. Rate USD/INR: Rs. 63.70