Butyl Acetate Weekly Report 02 Sep 2017

Weekly Price Trend: 28-08-2017 to 01-09-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices improved for this week.
• Butyl Acetate prices were assessed at the level of Rs.73/Kg for Kandla and Rs.74/Kg for Mumbai 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 improved for this week. Demand has improved in domestic markets. Prices were assessed at the level of Rs. 73/Kg for Kandla and Rs.74/Kg Mumbai port of India.

• CIF India prices were assessed in the range of USD 890-910/MT, increased by USd 30/MTS in compare to last week’s closing values.
• This week has been full of pains and agony due to natural calamities. On one side Texas has been facing the worst floods in the history of US. Houston and Louisiana has been the largely evacuated as floods has reached everywhere.
• The major petrochemical plants of the country are located on these sites. To take a precautionary action major companies like Exxon Mobil, LyondellBasel, Celanese and many more has shut down their units abruptly.  Formosa has shut down its ports and units along with Dow chemical. Petrobras has shut down its Pasadena refinery. Shell has shut down its refinery and unit. Arkema reported explosion in its unit on Thursday.
• In India too, the heavy rainfall continue to maintain its fury. This time it was Gujarat and Maharashtra facing heavy rainfall and flood like situation. The major commercial city of India Mumbai has been hard hitten by heavy rainfall India. Mumbai was all over in water for 2 days paralyzing the city and its residents. All the transportation and city centers were closed due to heavy rainfall across the city.
• The international prices are likely to soar up as due to abrupt shut downs there will be limited supply of the chemicals across the international market.
• The major companies have not decided yet to when to resume their production. At first they are likely to check out to what extent there has been damage in their units and refineries.

$1 = Rs. 64.02
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45