ACN Weekly Report 2 June 2018

Weekly Price Trend: 28-05-2018 to 01-06-2018

• The above given graph focuses on the ACN price trend from 28th May to 1st June 2018.
• Domestic prices reduced for this week. Prices were assessed around Rs.142/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 2010-2030/MT.

INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.142Kg, reduced by Rs.2/Kg in this week. The weakened supply in international market has led to hike `in domestic values.
• CFR India prices of Acrylonitrile were assessed in the range of USD 2010-2030/MT, slightly increased by USD 20/MT in compare to last week’s closing values.
• Feedstock Propylene market increased for this week. FOB Korea values were assessed around USD 1090/MT while CFR China values were assessed around USD 1130/MT while CFR SEA values assessed around USD 1015/MT.
• This week oil prices followed a mixed trend. On Thursday U.S. crude prices sank after a brief rally in the previous session, but as per analysis the recent slump in oil prices won't last much longer.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $67.04/bbl; prices have decreased by $1.17/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $0.09/bbl in compared to last trading and was assessed around $77.59/bbl.
• Oil prices were already heading lower on recent reports that OPEC, Russia and several other producer nations could soon begin winding down their 17-month-old deal to cap output. That agreement has drained a global glut of oil and helped balance the market, but it's now under review due to falling Venezuelan output and renewed U.S. sanctions against Iran.
• Market players said that supply and demand in the oil market are finely balanced, and surging U.S. output might not be enough to offset supply disruptions in Venezuela and Iran. Oil market fundamentals and OPEC policy could support oil at around $70 a barrel or higher.

$1 = Rs. 67.07
Import Custom Ex. Rate USD/ INR: 68.65
Export Custom Ex. Rate USD/ INR: 66.95