ACN Weekly Report 20 Jan 2018

Weekly Price Trend: 15-01-2018 to 19-01-2018

• The above given graph focuses on the ACN price trend from 15th Jan to 19th Jan 2018. In compare to last week’s closing values there has been slowdown in domestic values for this week.
• Domestic prices increased Rs.5/Kg and were assessed at the level of Rs.138/Kg for bulk quantity.

Total import at Kandla port in the month of December 2017

 The above chart depicts the import of ACN at Kandla port of India in the month of December 2017.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1840-1860/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.138/Kg, increased by Rs.5/Kg for bulk quantity in span of one week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1840-1860/MT, increased by USD 30/MTS in compare to last week’s closing values.
• 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.
• Oil prices have followed volatile trend this week. On Thursday Oil rebounded after slipping below $69 a barrel, supported by a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub, despite concerns that OPEC-led output cuts will increase supply from the United States.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $63.95/bbl; prices have decreased by $0.02/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.07/bbl in compared to last trading and was assessed around $69.31/bbl.
• As per report, the upside is now limited for oil prices. U.S. oil producers will ramp up production in the coming months. Some traders said that prices were unlikely to fall far due to the OPEC-led curbs and the risk of further disruptions.

$1 = Rs. 63.85
Import Custom Ex. Rate USD/ INR: 64.80
Export Custom Ex. Rate USD/ INR: 63.10