Butyl Acetate Weekly Report 04 August 2018

Weekly Price Trend: 30-07-2018 to 03-08-2018

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices remained weak for this week.
• Butyl Acetate prices were assessed at the level of Rs.93/Kg for Mumbai and Rs.92/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 reduced in the domestic market. Prices were assessed at the level of Rs.93/Kg for Mumbai and for Rs.92/kg Kandla port for bulk quantity.
• On other side there has been improvement hike in the international prices. CIF India prices were assessed in the range of USD 1380-1400, increased by USD 30/MTS in compare to last week’s closing values.
• This week oil prices have followed mixed trend. On Thursday oil prices traded slightly higher, reversing course after a report that crude stockpiles at the U.S. storage hub at Cushing, Oklahoma fell in the latest week.U.S. stockpiles have been in the spotlight because they rose unexpectedly last week, stoking fears that the market is becoming oversupplied.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.96/bbl. Prices have increased by $1.30/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.06/bbl in compare to last closing price and was assessed around $73.45/bbl.
• As per market report, oil prices are feeling the effects of tensions over global trade, which could cause economic growth to slow.
• Trump has turned up pressure on China for trade concessions by proposing a higher 25 percent tariff on $200 billion of Chinese imports and China has said it will retaliate.
• "It is almost certain that China will impose additional duties on oil and refined products imported from the U.S. if the Trump administration implements additional tariffs on the next tranche of Chinese goods. This could severely dent the competitiveness of U.S. oil and derivatives in the Chinese market.

$1 = Rs. 68.60
Import Custom Ex. Rate USD/ INR: 69.25                       
Export Custom Ex. Rate USD/ INR: 67.55