ACN Weekly Report 20 May 2017

Weekly Price Trend: 15-05-2017 to 19-05-2017

• The above given graph focuses on the ACN price trend from 15th May to 19th May 2017.  In compare to last week’s closing values there has been slight change in domestic values.
• Domestic prices were assessed at the level of Rs.114/Kg, remained unchanged by end of the week.

Total import at Kandla port in the month of April 2017

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

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1540-1560/MT.
INDIA& INTERNATIONAL

• Domestic prices of ACN remained volatile for this week. Prices were assessed at the level of Rs 114/Kg for bulk quantity.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1540-1560/MT, with an increase of USD 100/MT in compare to last week’s closing values.

• This week overall crude oil prices plunged with little instability Recent announcements by Russia and Saudi Arabia have helped oil prices to recover and several analysts have highlighted the energy sector as a potential play for investors.
• According to recent reports, Russia and Saudi Arabia has announced about the cut in supply of oil to be extended for another nine months i.e till arch 2018.are likely tp discuss this matter in their next meeting.
• Experts from tm the oil market believe that Russia and other major producers could help drive oil prices back to $60 per barrel or more with a new production deal, but again that would be a green signal for U.S. shale drillers. This drive even could bring the oil to range in $60 oil the end of the year, but the gains are not expected to spike much higher.
• On Thursday, closing crude values have increased.WTI on NYME closed at $49.35/bbl, prices have increased by $0.28/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.30/bbl in compared to last trading and was assessed around $52.51/bbl. 

$1 = Rs. 64.64
Import Custom Ex. Rate USD/ INR: 65.30
Export Custom Ex. Rate USD/ INR: 63.60