ACN Weekly Report 09 Sep 2017

Weekly Price Trend: 04-09-2017 to 08-09-2017

• The above given graph focuses on the ACN price trend from 4th September 8th September 2017. In compare to last week’s closing values there has been heavy fluctuation in domestic values.
• Domestic prices were assessed at the level of Rs.115/Kg, with a increase of Rs.15/Kg in compare to last week’s closing values.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1440-1460/MT.

INDIA& INTERNATIONAL

• Domestic prices of ACN remained highly volatile for this week. Prices were assessed at the level of Rs 115/Kg for bulk quantity.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1440-1460/MT, increased by USD 50/MTS in compare to last week’s closing values.
• This week oil prices have followed mixed trend. Oil futures eased on Thursday on a slightly bigger-than expected U.S. crude inventory build as the restart of U.S. refiners after Hurricane Harvey was being countered by the threat of Hurricane Irma. On Thursday, closing crude values have remained mixed.WTI on NYME closed at $49.09/bbl, prices have decreased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.29/bbl in compared to last trading and was assessed around $54.49/bbl. As per market players supplies of crude remained sufficient to meet demand.
• The major petrochemical plants of the country are located on these sites. To take a precautionary action major companies like Exxon Mobil, LyondellBasel, Celanese and many more has shut down their units abruptly.  Formosa has shut down its ports and units along with Dow chemical. Petrobras has shut down its Pasadena refinery. Shell has shut down its refinery and unit. Arkema reported explosion in its unit on Thursday.
• There has been rise in international prices in international market. Due to heavy rainfall and disruption of transportation there has been limited supply of the chemical across all major Indian markets.

$1 = Rs. 63.78
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.25