ACN Weekly Report 27 Oct 2018

Weekly Price Trend: 22-10-2018 to 26-10-2018

• The above given graph focuses on the ACN price trend from 22nd Oct to 26th Oct 2018.
• Domestic prices soft-to-stable for this week. There has decline in domestic values. Although prices remained stable in compare to last week’s closing values. Prices were assessed around Rs.157/Kg for bulk quantity by end of the week for Kandla port.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 2100-2120/MT.

INDIA& INTERNATIONAL

• Prices of ACN were assessed around Rs.157/kg, reduced by Rs.3/Kg in compare to last week’s closing values.
• CFR India prices of Acrylonitrile were assessed in the range of USD 2100-2120/MT, reduced by USD 20/MT in compare to last week’s closing values.
• Propylene market remained firm for this week. FOB Korea values were assessed around USD 1135/MT, remained unchanged for this week.
• Oil prices reduced on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand.
• "Bearish sentiment could force a re-test of support in the low $70.0 per barrel range.
• The market may shift towards an oversupply situation as evidenced by rising inventories over the past few weeks.
• U.S. crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said this week.
• Financial markets have been hit hard by a range of worries, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields, and economic concerns in Italy.
• Washington is putting pressure on governments around the world to stop importing oil from Iran.
• Most, including its biggest customer China, are falling in line, and Iran has turned to storing its unsold oil on its tanker fleet in the hope that it can sell the crude off quickly once the sanctions are lifted again.

$1 = Rs. 73.46
Import Custom Ex. Rate USD/ INR: 74.30
Export Custom Ex. Rate USD/ INR: 72.60