Butyl Acetate Weekly Report 01 Sep 2018
Weekly Price Trend: 27-08-2018 to 31-08-2018
- The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
- Compares to previous week Butyl Acetate prices remained firm for this week.
- Butyl Acetate prices were assessed at the level of Rs.95/Kg for Mumbai and Rs.94/Kg for Kandla ports of India.
Booking Scenario
The above chart shows the international prices of Butyl Acetate and its comparison from the previous prices. These booking prices for CIF India are for 0% duty.
INDIA & INTERNATIONAL
- Butyl Acetate prices remained vulnerable in the domestic market. Prices were assessed at the level of Rs.95/Kg for Mumbai and for Rs.94/Kg Kandla port for bulk quantity.
- On other side there has been significant slowdown in international prices since last two weeks. CIF India prices were assessed in the range of USD 1230-1250, reduced by USD 80/MTS in compare to last week’s closing values.
- This week oil prices have followed volatile trend. On Thursday oil prices increased due to extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. crude inventories.
- On Thursday, closing crude values have increased. WTI on NYME closed at $70.25/bbl. Prices have increased by $0.74/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.63/bbl in compare to last closing price and was assessed around $77.77/bbl.
- As per report, Brent has risen by almost 10 percent over the past two weeks on widespread perceptions that the global oil market is tightening and could run short in the next few months as U.S. sanctions restrict crude exports from Iran.
- Market players have said that market will remain tight towards the end of the year because of falling supply in countries such as Iran and Venezuela combined with strong demand, especially in Asia.
$1 = Rs. 70.99
Import Custom Ex. Rate USD/ INR: 71.10
Export Custom Ex. Rate USD/ INR: 69.40
