ACN Weekly Report 05 May 2018

Weekly Price Trend: 30-04-2018 to 04-05-2018

• The above given graph focuses on the ACN price trend from 30th April to 4th May 2018.
• Domestic prices witnessed a positive trend and prices increased by Rs.14/Kg for bulk quantity.
• Prices were assessed around Rs.151/Kg for bulk quantity by end of the week for Kandla port.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 20100-2030/MT.

INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.151Kg, remained stable to firm for this week. The weakened supply in international market has led to hike in domestic values.
• CFR India prices of Acrylonitrile were assessed in the range of USD 2020-2040/MT, increased by USD 10/MT in compare to last week’s closing values.
• Feedstock Propylene market remained stable for this week. FOB Korea values were assessed around USD 1040/MT while CFR China values were assessed around USD 1080/MT while CFR SEA values assessed around USD 955/MT.
• With rise in ACN values in China market and deficit supply has put an additional pressure on ACN values.
• Sinopec Anqing has shut down their ACN unit in the first week of April. The unit is expected to remain off-stream for around 40 days. The unit is likely to start its production in the third week of May 2018. China based unit has the manufacturing capacity of 210 kt/annum.
• This week crude oil prices have fluctuated. On Thursday, prices boosted by OPEC production cuts and the potential for new U.S. sanctions against Iran, but gains were limited by growing U.S. crude inventories.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.43/bbl; prices have increased by $0.50/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.26/bbl in compared to last trading and was assessed around $73.62/bbl.
• As per report, U.S. oil production also rose to a record of 10.62 million barrels per day (bpd), a jump of more than a quarter since mid-2016. Looming over markets is the May 12 deadline by when President Donald Trump is due to decide whether or not to continue waiving U.S. sanctions against Iran.

$1 = Rs. 66.86
Import Custom Ex. Rate USD/ INR: 67.50
Export Custom Ex. Rate USD/ INR: 65.80