ACN Weekly Report 22 July 2017
Weekly Price Trend: 17-07-2017 to 21-07-2017
- The above given graph focuses on the ACN price trend from 17th July to 21st July 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.107/Kg, reduced by Rs.1/Kg in compare to last week’s closing values.
Total import at Kandla port in the month of June 2017
The above chart depicts the import of ACN at Kandla port of India in the month of June 2017.
Booking Scenario
The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1510-1530/MT.
INDIA& INTERNATIONAL
- Domestic prices of ACN reduced slightly for this week. Prices were assessed at the level of Rs 107/Kg for bulk quantity.
- CFR India prices of Acrylonitrile were assessed in the range of USD 1510-1530/MT, with no change in compare to last week’s closing values.
- This week oil prices have followed volatile trend in the market. Oil prices jumped more than 1 percent on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories.
- On Thursday, oil settled lower in uneven trading. Closing crude values have decreased.WTI on NYME closed at $46.92/bbl, prices have decreased by $0.40/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $49.30/bbl.
- Russia is ready to continue working with OPEC to help rebalance oil markets, Moscow welcomed a flexible approach by OPEC's leader Saudi Arabia to accommodate rising output from Nigeria and Libya, said by source.
- Market players predicted that prices would hold near current levels ahead of Monday's meeting between key OPEC and non-OPEC producers in St. Petersburg, Russia. The market has been watching reports that Saudi Arabia, the world's largest crude producer, is considering an additional supply cut to reduce the global glut.
$1 = Rs. 64.32
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95
