ACN Weekly Report 16 june 2018

Weekly Price Trend: 11-06-2018 to 15-06-2018

• The above given graph focuses on the ACN price trend from 11th June to 15th June 2018.
• Domestic prices remained firm and increased for this week. Prices were assessed around Rs.148/Kg for bulk quantity by end of the week 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 1990-2010/MT.

INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.150kg, increased by Rs.8/Kg in this week. There has been improvement in domestic prices for this week.
• This week market remained dull passive on back of Ramadan and continuous 4 day holidays in this weekend.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1990-2010/MT, increased by USD 50/MT in compare to last week’s closing values.
• Feedstock Propylene market increased for this week. FOB Korea values were assessed around USD 1075/MT while CFR China values were assessed around USD 1100/MT while CFR SEA values assessed around USD 1015/MT.
• Mitsui Chemical shut down its naphtha cracker for a maintenance turnaround. The unit is likely to remain off-stream for around 5 weeks and may resume its production in the first week of July 2018.
• Unit is based at Kashia in Japan and has the manufacturing capacity of Propylene around 2,60,000 mt/year and Ethylene around 5,40,000 mt/year.
• Keiyo Petrochemical has shut down its Ethylene unit for maintenance turnaround. The unit will remain off-stream for around 5-6 weeks and is likely to resume production in the first week of July 2018.
• This week market remained dull passive on back of Ramadan and continuous 4 day holidays in this weekend.
• This week crude oil prices have followed mixed trend. On Thursday oil prices were lower, facing pressure from evidence of rising U.S. output and uncertainty over the outlook for supply.
• On Friday, closing crude values have remained mixed. WTI on NYME closed at $66.89/bbl; prices have increased by $0.25/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $0.86/bbl in compare to last closing price and was assessed around $76.74/bbl.
• On Friday oil prices were little changed in early Asian trade, as investors eyed a key OPEC meeting in Vienna and Saudi Arabia and Russia.As per report, OPEC and Russia are expected to gradually increase production, but opinions about easing output caps are fragmented within OPEC ahead of its meeting next week. U.S. crude output hits record 10.9 million barrels per day, as per report.

$1 = Rs. 68.01
Import Custom Ex. Rate USD/ INR: 67.85
Export Custom Ex. Rate USD/ INR: 66.15