ACN Weekly Report 09 Dec 2017

Weekly Price Trend: 04-12-2017 to 08-12-2017

• The above given graph focuses on the ACN price trend from 4th Dec to 8th Dec 2017. In compare to last week’s closing values there has been significant fall in domestic values for this week.
• Domestic prices reduced by Rs.5/Kg and were assessed at the level of Rs.140/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 1870-1890/MT.
INDIA& INTERNATIONAL

• After an unprecedented hike in values in last few months the domestic values have been settling down due to normal availability of the chemical in the domestic as well as international market. Prices of ACN were assessed around Rs.140/Kg, reduced by Rs.5/Kg for bulk quantity in span of one week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1870-1890/MT, with no change in compare to last week’s closing values.
• Weakening in the demand of downstream Acrylic has also slowdown the values for ACN in international market.CFR FAR East Asia prices were assessed at the level of USD 1880/MT where as CFR South East Asia prices were assessed at the levels of USD 1820/MT.
• Propylene the feedstock for ACN values were assessed around FOB Korea USD 905/MT while CFR China values were assessed around USD 970/MT.
• Crude oil prices remained mixed for this week. Oil rose on Thursday indicating that investors are doubtful of pushing the market lower in response to an unexpectedly large rise in U.S. stocks of refined products that has increased concern about the demand outlook.
• On Thursday, closing crude values have increased. WTI on NYME closed at $56.69/bbl; prices have increased by $0.73/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.98/bbl in compared to last trading and was assessed around $62.20/bbl.
• On Friday oil prices dipped as the U.S. dollar strengthened, although OPEC-led supply cuts are seen supporting markets going into next year.
• As per market players, Soaring U.S. output threatens to undermine efforts led by the OPEC and Russia to bring production and demand into balance following years of oversupply. The market suggests that the bull market is not as strong as earlier predicted. Oil prices saw a sharp 2.9 percent decline after the US published its inventory data. Analysts expect that oil prices to move in a price band of USD 45 to USD 60 for the calendar year 2018.

$1 = Rs. 64.46
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70