ACN Weekly Report 16 Dec 2017

Weekly Price Trend: 11-12-2017 to 15-12-2017

• The above given graph focuses on the ACN price trend from 11th Dec to 15th Dec 2017. In compare to last week’s closing values there has been significant fall in domestic values for this week.
• Domestic prices reduced by Rs.1/Kg and were assessed at the level of Rs.139/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 1870-1890/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.139/Kg, reduced by Rs.1/Kg for bulk quantity in span of one week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1860-1880/MT, reduced by USD 10/MTS in compare to last week’s closing values.
• ACN values continue to decline in international market despite of hike in upstream Propylene prices. Slow and poor demand for downstream Acrylic has put an advert pressure on ACN prices in international market.
• CFR FAR East Asia prices were assessed at the level of USD 1870/MT where as CFR South East Asia prices were assessed at the levels of USD 1810/MT.
• Propylene the feedstock for ACN values were assessed around FOB Korea USD 920/MT while CFR China values were assessed around USD 980/MT.
• This week crude oil prices have followed mixed trend. On Thursday oil prices rose as a pipeline outage in Britain continued to support prices despite forecasts showing global crude surplus in the beginning of next year.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.04/bbl; prices have increased by $0.44/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.87/bbl in compared to last trading and was assessed around $63.31/bbl.
• While on Friday, Oil markets were stable as the Forties pipeline outage in the North Sea and the ongoing OPEC-led production cuts supported prices, while rising output from the United States kept crude from rising further.
• Traders said markets were overall well supported by efforts led by OPEC and Russia to withhold supply to prop up prices.
• As per market report, the oil market to have a surplus of 200,000 barrels per day in the first half of next year before reverting to a deficit of about 200,000 bpd in the second half. That means 2018 overall should show closely balanced market.

$1 = Rs. 64.04
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70