ACN Weekly Report 06 Oct 2018

Weekly Price Trend: 01-10-2018 to 05-10-2018

• The above given graph focuses on the ACN price trend from 1st Oct to 5th Oct 2018.
• Domestic prices remained volatile for this week. There has slight weakening in domestic values. Although prices remained stable in compare to last week’s closing values. Prices were assessed around Rs.168/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 2150-2170/MT.

INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.168/kg, remained unchanged in compare to last week’s closing values.
• CFR India prices of Acrylonitrile were assessed in the range of USD 2150-2170/MT, reduced by USD 90/MTS for this week.  
• Propylene market remained firm for this week. FOB Korea values were assessed around USD 1135/MT, remained unchanged for this week.
• There has been heavy fluctuation in crude prices in this week. As the month of November is approaching fast the heat of sanction felt in the crude values across the world.
• On Thursday crude prices plunged due to rise in the inventory levels in US. But this hike was again pulled back on Thursday. Saudi Arabia and Russia has stated they will increase the crude supply but could not fill the void created by disruption of supply from Iran.
• With short supply from the price for crude is likely to reach a mark of $90 to $100 per barrel. On Wednesday, Saudi Energy Minister Khalid al-Falih said the kingdom was pumping near record levels and would raise output in November. Saudi Arabia is one of the few countries with the ability to significantly raise output. Many experts believe that the spar capacity of specified by Saudi is merely a statement but does exist in reality.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $74.33/bbl. Prices have decreased by $2.08/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.71/bbl in compare to last closing price and was assessed around $84.58/bbl.

PLANT NEWS
Shanghai SECCO shuts its ACN plant
Shanghai SECCO Petrochemical has shut down its ACN unit for maintenance turnaround. The unit is based at Shanghai in China and will remain of-steam for 4-5 weeks.
Unit has the production capacity of 1, 30,000 tonnes/year.
ACN plant to be shut down Fushun Petrochemical
Fushun Petrochemical is planning to shut down its ACN unit for maintenance turnaround. The unit is likely to remain off-stream for more than three weeks.
Unit is based at Liaoning province of China and has the production capacity of 92,000 tonnes/year.

$1 = Rs. 73.78
Import Custom Ex. Rate USD/ INR: 74.60
Export Custom Ex. Rate USD/ INR: 72.90