ACN Weekly Report 10 Aug 2018

Weekly Price Trend: 06-08-2018 to 10-08-2018

• The above given graph focuses on the ACN price trend from 6th August to 10th August 2018.
• Domestic prices increased heavily for this week. Prices were assessed around Rs.165/Kg for bulk quantity by end of the week for Kandla port. There has been consistent rise in domestic prices for ACN.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 2210-2230/MT.

INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.165/kg, heavily increased by Rs.4/Kg for this week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 2210-2230/MT, with no change for this week.
• At present the prices for ACN are at its peak in last more than five years. The sole reason for this hike has been the limited supply of the chemical across the globe.
• This week oil prices have followed volatile trend. On Thursday Crude prices held near lower levels set in the previous session, as the escalating China-U.S. trade dispute cast doubt on the outlook for oil demand.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $66.81/bbl. Prices have decreased by $0.13/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.21/bbl in compare to last closing price and was assessed around $72.07/bbl. Both benchmarks tumbled more than 3 percent after U.S. data showed a smaller-than-expected weekly draw in crude inventories and a surprise build of 2.9 million barrels in gasoline supplies.
• As per report, despite the possibility of a slowdown in economic growth due to escalating trade tensions, oil markets are for now relatively tight, because of sanctions on Iranian oil exports the United States plans to implement in November. Beyond Iran sanctions, the escalating trade dispute between Washington and Beijing was weighing on global markets.

$1 = Rs. 68.87
Import Custom Ex. Rate USD/ INR: 69.25
Export Custom Ex. Rate USD/ INR: 67.55