ACN Weekly Report 06 May 2017

Weekly Price Trend: 01-05-2017 to 05-05-2017

• The above given graph focuses on the ACN price trend from 1st May to 5th May 2017.  In compare to last week’s closing values there has no change in the domestic values.
• Domestic prices were assessed at the level of Rs.116/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 1340-1360/MT.
INDIA& INTERNATIONAL

• Domestic prices of CAN remained unchanged for this week. Prices were assessed at the level of Rs 116/Kg for bulk quantity.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1340-1360/MT, with an decrease of USD 150/MT in compare to last week’s closing values.
• Throughout the week oil prices remained volatile. As per recent records oil prices reduced sharply.WTI from $53 a barrel, down to $48 while Brent declined from $55 to $51. The falling oil means weakening of economy, the reality is that oil is being driven by increased supply. On Thursday oil prices have plunged as the resume of two key Libyan oilfields and concerns about dreary gasoline demand fed concern over whether major oil producers can lessen the glut of global inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.97/bbl, prices have increased by $0.65/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.38/bbl in compared to last trading and was assessed around $51.44/bbl.
• As per market analyst As gas prices dropped, it created an undertow for the entire crude oil market. The outlook for oil prices will remain unstable. Decline in crude prices and therefore petroleum product prices also means corresponding reduction in prices of some of the raw materials for the petrochemical industry. Hence, it can be a factor in improving the profitability of that industry.

$1 = Rs. 64.37
Import Custom Ex. Rate USD/ INR: 65.10
Export Custom Ex. Rate USD/ INR: 63.40