BAM Weekly Report 27 Oct 2018
Weekly Price Trend: 22-10-2018 to 26-10-2018
- The above given graph focuses on the Butyl Acrylate Monomer price trend for current week.
- If we take a quick look at the above given weekly prices, it can be observed that prices remained soft for this week.
- Prices of BAM were assessed at the level of Rs.119/Kg for ex Kandla for bulk quantity increased by Rs.3/Kg in compare to last week’s closing values.
Booking Scenario
The above chart shows the international prices of BAM and its comparison from the previous prices.
INDIA & INTERNATIONAL
- Domestic values for BAM remained weak for this week. Prices were assessed at the level of Rs.119/Kg for bulk quantity.
- CIF India prices of BAM were assessed at the level of USD 1490-1510/MT (Full Duty), reduced by USD 40/MTS 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
