BAM Weekly Report 30 Sep 2017

Weekly Price Trend: 25-09-2017 to 29-09-2017

• 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 there has been significant hike in values by end of this week.
• Prices of BAM were assessed at the level of Rs.92/Kg for ex Kandla for bulk quantity.

Booking Scenario

The above chart shows the international prices of BAM and its comparison from the previous prices. On Friday CFR India prices of BAM prices remained unchanged for this week.

INDIA & INTERNATIONAL

• There has been significant hike in the domestic values of BAM by end of this week. This has been particularly due to festive season across the country and weakened supply of the chemical. With long weekend ahead, the supply has really declined and demand has also slow down. This upcoming festive season will continue to weaken the demand of the chemical.
• By end of the week prices were assessed at the level of Rs.92/Kg for bulk quantity for Kandla and Mumbai port of India.
• CIF India prices of BAM were assessed at the level of USD 1300-1320/MT (Full Duty), with no change in compare to last week’s closing values.
• This week oil prices have followed mixed trend. Investors have really gained confidence in oil, after the OPEC cuts that were originally discussed earlier in the year are starting to take shape here, and oil production is being curbed.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $51.56/bbl, prices have decreased by $0.58/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.49/bbl in compared to last trading and was assessed around $57.41/bbl. Due to the combination of production cuts and growing demand, oil could head up to its 2017 high, just above $55, or even $60 per barrel by year-end. A global supply glut has plagued the market for several years, and OPEC member countries and non-member producers have vowed to implement cuts to curb such oversupply.

$1 = Rs. 65.28
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.25