ACN Weekly Report 11 Feb 2017

Weekly Price Trend: 06-02-2017 to 10-02-2017

• The above given graph focuses on the ACN price trend from 6th Feb to 10th Feb 2017.  In compare to last week’s closing values there was gain in domestic prices.
• If we take a quick look at the above given weekly prices, it can be observed that prices increased for this week.
• Domestic prices were assessed at the level of Rs.106/Kg week 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 1440-1460/MT.
INDIA& INTERNATIONAL

• Domestic prices of ACN increased significantly this week. Prices were assessed at the level of Rs 106/Kg for bulk quantity.
• CFR India prices of Acrylonitrile were assessed in the range of USD 14940-1460/MT, with an decrease of USD 50/MT in compare to last week’s closing values
• Crude oil prices again followed mixed throughout this week and by end of the week prices increased after an unexpected draw in U.S. gasoline inventories pointed to higher demand in the world's biggest oil market.
• According to reports, U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
• The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
• Market Analysts believe that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.00/bbl, prices have increased by $0.66/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.51/bbl in compared to last trading and was assessed around $55.63/bbl.

$1 = Rs. 66.88
Import Custom Ex. Rate USD/ INR: 68.40
Export Custom Ex. Rate USD/ INR: 66.70