ACN Weekly Report 08 July 2017

Weekly Price Trend: 03-07-2017 to 07-07-2017

• The above given graph focuses on the ACN price trend from 3rd July to 7th July 2017. In compare to last week’s closing values there has been slight change in domestic values.
• Domestic prices were assessed at the level of Rs.109/Kg, reduced by Rs.4/Kg for this

      week.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1510-1530/MT.
INDIA& INTERNATIONAL

• Domestic prices of ACN reduced significantly for this week. Prices were assessed at the level of Rs 109/Kg for bulk quantity.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1510-1530/MT, increased by USD 20/MTS in compare to last week’s closing values.
• This week oil prices followed volatile trend. On Thursday oil prices closed on slightly higher note after a sharp but short-lived boost from a much bigger-than-expected decline in U.S. inventories of crude oil and gasoline. WTI on NYME closed at $45.52/bbl, prices have increased by $0.39/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.32/bbl in compared to last trading and was assessed around $48.11/bbl. Market players said the surge was driven by traders closing out short positions, or bets that oil prices would fall.
• There's a lot of bearishness out there now the market still believes supplies are not going to be in balance globally. Investors believe the OPEC will need to make further output cuts to offset thriving shale production in the United States.
• U.S. gasoline stocks dropped 3.7 million barrels in the most recent week, far exceeding the expected drop of 1.1 million barrels. Still, gasoline inventories remain about 6 percent above seasonal averages, so investors will watch for July data to see if demand is strong enough to whittle down stocks.

$1 = Rs. 64.59
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95