ACN Weekly Report 10 March 2018

Weekly Price Trend: 05-03-2018 to 09-03-2018

• The above given graph focuses on the ACN price trend from 5th March to 9th March 2018.
• After weeks of hike. Now prices are regaining the composure. The incredible rise in last few weeks has been due to supply of chemical in domestic market. This has now become stable as prices are settling down.
• Prices reduced in this week and regain the value by end of the week. The closing value for ACN for this week was Rs.220/Kg 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 2040-2060/MT.

 INDIA& INTERNATIONAL

• After an unprecedented hike in values in last few months the domestic values has now reduced for this week. Prices of ACN were assessed around Rs.220/Kg, increased by Rs.20/Kg for bulk quantity in span of one week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 2040-2060/MT, with no change in compare to last week’s closing values.
• Feedstock Propylene market has also reduced for this week. FOB Korea values were assessed around USD 1040/MT while CFR China values were assessed around USD 1095/MT.
• This week oil prices have remained volatile. On Thursday oil prices fell headed for a second straight weekly drop on a stronger dollar, signs of an inventory build at the U.S. storage hub in Cushing, Oklahoma, surging U.S. crude production and investor jitters about a potential trade war.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $60.12/bbl; prices have decreased by $1.03/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.73/bbl in compared to last trading and was assessed around $63.61/bbl.
• On Friday, crude oil futures rose as Asian stock markets gained on North Korean leader Kim Jong Un will meet with U.S. President Donald Trump.
• As per report, U.S. crude output is expected to surge beyond 11 million bpd by late 2018, limiting the effectiveness of output cuts by the Organization of the Petroleum Exporting Countries, Russia and other producers.

$1 = Rs. 65.16
Import Custom Ex. Rate USD/ INR: 66.10
Export Custom Ex. Rate USD/ INR: 64.40