ACN Weekly Report 12 Aug 2017

Weekly Price Trend: 07-08-2017 to 11-08-2017

• The above given graph focuses on the ACN price trend from 7th August to 11th Aug 2017. In compare to last week’s closing values there has been slight change in domestic values.
• Domestic prices were assessed at the level of Rs.105/Kg, remained unchanged 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 1380-1400/MT.

INDIA& INTERNATIONAL

• Domestic prices of ACN decreased slightly for this week. Prices were assessed at the level of Rs 105/Kg for bulk quantity.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1380-1400/MT, reduced by USD 10/MT in compare to last week’s closing values.

• This week crude oil prices followed volatile trend and on Thursday market closed on weaker note. Oil prices fell more than 1.5 percent on Thursday, to hit two-week lows, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.59/bbl, prices have decreased by $0.97/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.80/bbl in compared to last trading and was assessed around $51.90/bbl.
• Investors were also keeping a close eye on the broad market impact of tensions between the United States and North Korea. Recently Crude oil prices failed to hold recent gains, with a nervous market starting to doubt recent falls in inventories.
• As per report, OPEC is curbing output by about 1.2 million bpd, while Russia and other non-OPEC producers cut half as much, until March 2018.

$1 = Rs. 64.13
Import Custom Ex. Rate USD/ INR: 64.55
Export Custom Ex. Rate USD/ INR: 62.85