ACN Weekly Report 04 August 2018

Weekly Price Trend: 30-07-2018 to 03-08-2018

• The above given graph focuses on the ACN price trend from 30th July to 3rd August 2018.
• Domestic prices increased heavily for this week. Prices were assessed around Rs.161/Kg for bulk quantity by end of the week for Kandla port. There has been consistent variation in domestic prices for ACN.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 2210-2230/MT.

INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.161/kg, heavily increased by Rs.6/Kg for this week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 2210-2230/MT, increased by USD 10/MTS in compare to last week’s closing values.
• At present the prices for ACN are at its peak in last more than five years. The sole reason for this hike has been the limited supply of the chemical across the globe.
• The other major reason is that many of the major ACN manufacturing units has scheduled their maintenance in next few months. Costing factor no more depends on feedstock values only follows the supply trend.
• This week oil prices have followed mixed trend. On Thursday oil prices traded slightly higher, reversing course after a report that crude stockpiles at the U.S. storage hub at Cushing, Oklahoma fell in the latest week.U.S. stockpiles have been in the spotlight because they rose unexpectedly last week, stoking fears that the market is becoming oversupplied.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.96/bbl. Prices have increased by $1.30/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.06/bbl in compare to last closing price and was assessed around $73.45/bbl.
• As per market report, oil prices are feeling the effects of tensions over global trade, which could cause economic growth to slow.
• Trump has turned up pressure on China for trade concessions by proposing a higher 25 percent tariff on $200 billion of Chinese imports and China has said it will retaliate.
• "It is almost certain that China will impose additional duties on oil and refined products imported from the U.S. if the Trump administration implements additional tariffs on the next tranche of Chinese goods. This could severely dent the competitiveness of U.S. oil and derivatives in the Chinese market.

$1 = Rs. 68.60
Import Custom Ex. Rate USD/ INR: 69.25
Export Custom Ex. Rate USD/ INR: 67.55