ACN Weekly Report 23 June 2018

Weekly Price Trend: 18-06-2018 to 22-06-2018

• The above given graph focuses on the ACN price trend from 18th June to 22nd June 2018.
• Domestic prices remained volatile for this week. Prices were assessed around Rs.153/Kg for bulk quantity by end of the week for Kandla port.

Total ACN import in the month of May  2018

 The above table depicts the import of ACN at Kandla port in the month of May 2018.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 2040-2060/MT.

INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.153/kg, reduced by Rs.2/Kg in this week. There has been slowdown in domestic prices for this week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 2040-2060/MT, increased by USD 50/MT in compare to last week’s closing values.
• Feedstock Propylene market increased for this week. FOB Korea values were assessed around USD 1075/MT while CFR China values were assessed around USD 1100/MT while CFR SEA values assessed around USD 1010/MT.
• There has been hike in international prices as custom exchange rate has also increased to significant level. Crisis in international market due to imposition of trade tariffs on China by US and even India has also imposed tariffs on imports of goods from US.
• This week crude oil prices have followed volatile trend. on Thursday Global benchmark Brent crude extended losses ahead of Friday's meeting of the OPEC, where producers are expected to boost output.
• On Thursday, closing crude values have plunged. WTI on NYME closed at $65.54/bbl; prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.69/bbl in compare to last closing price and was assessed around $73.05/bbl.
• Today oil prices rose by more than 1 percent in early Asian trading, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.
• Iran had been expected to oppose any rise in crude output, but it has now signalled it may support a small increase. As per report, presently oil market had now rebalanced and its aim was to prevent a shortage of crude in future that could squeeze the market.

$1 = Rs. 67.84
Import Custom Ex. Rate USD/ INR: 69.10
Export Custom Ex. Rate USD/ INR: 67.40