ACN Weekly Report 02 Dec 2017

Weekly Price Trend: 27-11-2017 to 01-12-2017

• The above given graph focuses on the ACN price trend from 27th Nov to 1st Dec 2017. In compare to last week’s closing values there has been significant in domestic values for this week.
• Domestic prices increased by Rs.15/Kg and were assessed at the level of Rs.145/Kg for bulk quantity.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1870-1890/MT.
INDIA& INTERNATIONAL

• There has been an unprecedented hike in domestic values of ACN. Prices of ACN were assessed around Rs.145/Kg, increased by Rs.15/Kg for bulk quantity in span of one week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1870-1890/MT, increased by USD 30/MTS in compare to last week’s closing values.
• Propylene the feedstock for ACN values were assessed around FORB Korea USD 895/MT while CFR China values were assessed around USD 970/MT.
• This week crude oil prices have followed mixed trend. On Thursday oil prices have escalated OPEC members, Russia and nine other producers agreed to extend a deal to limit their production through 2018.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.40/bbl; prices have decreased by $0.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.46/bbl in compared to last trading and was assessed around $63.57/bbl
• As per report, the producers will indeed review the deal at the next OPEC meeting in June. Some markets were concerned that a nine-month extension could cause markets to quickly tighten, leading to undersupply that results in a price spike. Oil watchers also warn that a rise in prices will give U.S. shale drillers an incentive to flood the market. Russia has expressed concern that its oil companies will continue to lose market share to American producers, who are exporting record levels of crude.

$1 = Rs. 64.46
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50