ACN Weekly Report 09 June 2018

Weekly Price Trend: 04-06-2018 to 08-06-2018

• The above given graph focuses on the ACN price trend from 4th June to 8th June 2018.
• Domestic prices remained stable for this week. Prices were assessed around Rs.145/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 1940-1960/MT.
INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.145/kg, increased by Rs.3/Kg in this week. There has been improvement in domestic prices for this week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1940-1960/MT, reduced by USD 70/MT in compare to last week’s closing values.
• Feedstock Propylene market increased for this week. FOB Korea values were assessed around USD 1085/MT while CFR China values were assessed around USD 1110/MT while CFR SEA values assessed around USD 1015/MT.
• Mitsui Chemical shut down its naphtha cracker for a maintenance turnaround. The unit is likely to remain off-stream for around 5 weeks and may resume its production in the first week of July 2018.
• Unit is based at Kashia in Japan and has the manufacturing capacity of Propylene around 2,60,000 mt/year and Ethylene around 5,40,000 mt/year.
• Keiyo Petrochemical has shut down its Ethylene unit for maintenance turnaround. The unit will remain off-stream for around 5-6 weeks and is likely to resume production in the first week of July 2018.
• This week oil prices have followed volatile trend. On Thursday oil prices surged due to concern about a steep drop in exports from Venezuela and concerns OPEC may not raise production at its meeting this month.
• On Thursday, closing crude values have increased. WTI on NYME closed at $65.95/bbl; prices have increased by $1.22/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $1.96/bbl in compare to last closing price and was assessed around $77.32/bbl.
• As per report, Crude prices got an early lift on concerns about exports from Venezuela. Gains grew while OPEC would focus on balancing the market rather than on rolling back production caps.
• The OPEC and other producers including Russia have cut output since 2017 to reduce a global crude glut. The group meets in Vienna on June 22 to discuss its supply policy. Market players said that to maintain the balance between supply and demand to ensure the stability of the oil markets matters to us

$1 = Rs. 67.50
Import Custom Ex. Rate USD/ INR: 67.85
Export Custom Ex. Rate USD/ INR: 66.15