ACN Weekly Report 25 March 2017

Weekly Price Trend: 20-03-2017 to 24-03-2017

• The above given graph focuses on the ACN price trend from 20th March to 24thMarch 2017.  In compare to last week’s closing values there has been heavy fluctuation in domestic values.
• Domestic prices were assessed at the level of Rs.1117/Kg, hike of Rs.2/Kg for bulk quantity in compare to last week’s closing values.

Total import at Kandla port in the month of February 2017

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

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1590-1610/MT.
INDIA& INTERNATIONAL

• Domestic prices of ACN decreased significantly for this week. Prices were assessed at the level of Rs 117/Kg for bulk quantity.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1590-1610/MT, with an increase of USD 60/MT in compare to last week’s closing values.
• Price trend for crude values remained thin with very few changes. Oil prices plunged initially as U.S. crude inventories increased faster than expected, piling pressure on OPEC to extend output cuts beyond June. Now investors await a meeting between OPEC and its allies that may signal whether they will extend output curbs.
• As per sources, American crude output continued to rise along with inventories, while OPEC won’t formally decide until May whether to extend production curbs, officials will meet this weekend in Kuwait to discuss their deal’s progress.
• Market analyst said that without the production cut agreement, prices could basically target the low-to-mid $30s, players are positive that they will extend production cut. Some players are anticipating lowering prices due to high supplies.
• On Monday WTI were closed at $49.31 and Brent closed at $51.76 while on Thursday, closing crude values have decreased.WTI on NYME closed at $47.70/bbl, prices have decreased by $0.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $50.56/bbl.

$1 = Rs. 65.41
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50