ACN Weekly Report 21 April 2018

Weekly Price Trend: 16-04-2018 to 20-04-2018

• The above given graph focuses on the ACN price trend from 16th April to 20th April 2018.
• Domestic prices witnessed a positive trend and prices increased by Rs.5/Kg for bulk quantity.
• Prices were assessed around Rs.137/Kg for bulk quantity by end of the week for Kandla port.

Booking Scenario

he above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1980-2010/MT.

INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.137/Kg, increased by Rs.5/Kg for bulk quantity in span of one 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 1940-1960/MT, reduced by USD 80/MT in compare to last week’s closing values.
• Feedstock Propylene market remained higher for this week. FOB Korea values were assessed around USD 1045/MT while CFR China values were assessed around USD 1080/MT while CFR SEA values assessed around USD 950/MT.
• Northeast Asia may see a reshuffle in the trade flow of acrylonitrile should China go ahead with slapping an additional tariff on ACN imports from the US. The brewing US-China trade war has drawn muted reaction from Northeast Asia.
• "If tariff passes, then [US producers] such as Ineos currently selling to Chinese ABS producers will probably shift to South Korea or Taiwan instead. South Korean and Taiwanese ACN producers will move their cargoes to China accordingly, with a logistical mark-up a trader said this week.
• The prices have seen a new height in crude sector since 2014 due to ongoing in global supply with Saudi Arabia intending for prices to still go high in the international market.
• The previous oversupply of crude is no more in the international market. Experts believe that reaching the marl of $ 70 is very near in the future.
• Oil prices have escalated through the week but on Thursday prices have remained mixed. On Thursday, closing crude values have decreased. WTI on NYME closed at $68.29/bbl; prices have decreased by $0.18/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 $73.78/bbl.

$1 = Rs. 66.03
Import Custom Ex. Rate USD/ INR: 66.70
Export Custom Ex. Rate USD/ INR: 65.00