ACN Weekly Report 13 Jan 2018

Weekly Price Trend: 08-01-2018 to 12-01-2018

• The above given graph focuses on the ACN price trend from 8th Jan to 12th Jan 2018. In compare to last week’s closing values there has been slowdown in domestic values for this week.
• Domestic prices reduced by Rs.1/Kg and were assessed at the level of Rs.133/Kg 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 1810-1830/MT.
INDIA& INTERNATIONAL

• After an unprecedented hike in values in last few months the domestic values have been settling down due to normal availability of the chemical in the domestic as well as international market. Prices of ACN were assessed around Rs.133/Kg, reduced by Rs.2/Kg for bulk quantity in span of one week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1690-1710/MT, heavily reduced by USD 120/MT in compare to last week’s closing values.
• On other side Propylene market has also been witnessing firmness in prices.  FOB Korea values were assessed around USD 990/MT, while CFR China values were assessed around USD 1060/MT. With maintenance scheduled in the month of January more progression in values will take place in next few months in Asian markets.
• This week crude oil prices have followed up velocity. On Thursday Brent crude oil hit a more than three-year high breaking through the psychologically important $70 a barrel level for the first time since December 2014.
• On Thursday, closing crude values have increased. WTI on NYME closed at $63.80/bbl; prices have increased by $0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $69.26/bbl.
• Oil prices have been supported by stronger-than-expected demand fueled by worldwide economic growth, ongoing output limits by OPEC and Russia and a series of global events that have stoked geopolitical tension.
• Market analysts say it will be hard for oil prices to tack on gains from these levels. Robust global demand, OPEC output cuts and a series of geopolitical tensions have accelerated a rally that began in June.

$1 = Rs. 63.61
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.80