ACN Weekly Report 25 August 2018

Weekly Price Trend: 20-08-2018 to 24-08-2018

• The above given graph focuses on the ACN price trend from 20th August to 24th August 2018.
• Domestic prices increased heavily for this week. Prices were assessed around Rs.175/Kg for bulk quantity by end of the week for Kandla port. There has been consistent rise in domestic prices for ACN.

Total ACN import in the month of July 2018

The above chart the import of ACN in the month of July 2018.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 2240-2260/MT.
INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.175/kg, heavily increased by Rs.7/Kg for this week.
• CFR India prices of Acrylonitrile were assessed in the range of USD 2240-2260/MT, slightly reduced by USD 20/MTS for this week.
• At present the prices for ACN are at its peak in last more than five years. The sole reason for this hike has been the limited supply of the chemical across the globe.
• This week oil prices have followed volatile trend. On Thursday oil prices plunged as an swelling trade dispute between the United States and China balanced news of a decline in U.S. commercial crude inventories.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $67.83/bbl. Prices have decreased by $0.03/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.05/bbl in compare to last closing price and was assessed around $74.73/bbl.
• Oil demand is closely linked to economic activity and the trade dispute has already led analysts to trim their forecasts for future energy consumption. But while the outlook for oil demand growth may be moderating, some markets are tight. As per report, this week's report was bullish for crude. Crude stocks drew due to sharply lower crude imports and near-record refinery crude runs.

$1 = Rs. 69.91
Import Custom Ex. Rate USD/ INR: 71.10
Export Custom Ex. Rate USD/ INR: 69.40