ACN Weekly Report 23 Dec 2017

Weekly Price Trend: 18-12-2017 to 22-12-2017

• The above given graph focuses on the ACN price trend from 18th Dec to 22nd Dec 2017. In compare to last week’s closing values there has been significant fall in domestic values for this week.
• Domestic prices reduced by Rs.1/Kg and were assessed at the level of Rs.138/Kg for bulk quantity.

Total import at Kandla port in the month of November 2017

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

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1870-1890/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, reduced by Rs.1/Kg for bulk quantity in span of one week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1870-1890/MT, slightly increased by USD 10/MTS in compare to last week’s closing values.
• On other side Propylene market has also been witnessing firmness in prices.  With maintenance scheduled in the month of January more progression in values will take place in next few months in Asian markets.
• Propylene the feedstock for ACN values were assessed around FOB Korea USD 935/MT while CFR China values were assessed around USD 990/MT.
• This week oil prices have followed mixed trend and closed on higher note. On Thursday, Oil prices higher, erasing earlier losses as Britain's Forties pipeline in the North Sea was expected to restart in early January after repairs over Christmas. Forties is the largest of the five North Sea crudes that underpin Brent, a benchmark for oil trading in Europe, the Middle East, Africa and Asia.
• On Thursday, closing crude values have increased. WTI on NYME closed at $58.36/bbl; prices have increased by $0.27/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.34/bbl in compared to last trading and was assessed around $64.90/bbl.
• As per market report, based on current estimates the company expects to bring the pipeline progressively back to normal rates early in the new year. Oil prices were also supported by falling crude inventories in the United States but capped by output that is fast approaching 10 million barrels per day.
• As me market predictors said that the first few months of 2018 to be either flat or a build in inventories, as it is typically the case with the seasonality in the oil market.

$1 = Rs. 64.04
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.20