ACN Weekly Report 25 Nov 2017

Weekly Price Trend: 20-11-2017 to 24-11-2017

• The above given graph focuses on the ACN price trend from 20th Nov to 24th Nov 2017. In compare to last week’s closing values there has hike in values for this week.
• Domestic prices were assessed at the level of Rs.130/Kg for bulk quantity.

Total import at Kandla port in the month of October 2017

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

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1840-1860/MT.
INDIA& INTERNATIONAL

• Domestic prices of ACN remained stable-to-firm for this week. Prices were assessed at the level of Rs.130/Kg for bulk quantity.
• CFR India prices of Acrylonitrile were assessed in the range of USD 1840-1860/MT, with decline of USD 60/MTS in compare to last week’s closing values.
• This has been one of the major crack down in values since July. ACN has been witnessing hike in prices due limited supply across the world.
• Experts believe this softening of values is likely to last for few more weeks as there has been significant improvement in the supply of the chemical.
• CFR Far East Asia prices of ACN were assessed down at the USD 1905/mt levels reduced by USD 55/MT in one week while CFR South East Asia prices were assessed at the levels of USD 1845/MT, reduced by USD 15/MT in the span of one week.
• Propylene the feedstock for ACN  values were assessed around FORB Korea USD 895/MT while CFR China values were assessed around USD 945/MT, both increased by USD 15/MT.
• There has been huge cult in the petrochemical production output in China since January to October. On an average production growth has slowdown for 8.5 % to 3.9%. This has been due to extra consciousness of communist government of China in environmental issues. The quality of air has been regarded as worst in Chin since past few years. To overcome such issues the government has decided to put an cult on the petchem production. The Beijing-Tianjin-Hebei Region has been constantly monitored by the government.
• Industry sources expect the environmental measures to be adopted in the eastern and southern parts of China as well, and could mean a further curtailment to the country's overall petrochemical supply that will consequently drive up prices.
• There “is likely to be significant disruption to existing chemicals’ capacity” amid China’s environmental protection campaign.

$1 = Rs. 67.63
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50