Butyl Acetate Weekly Report 05 May 2018

Weekly Price Trend: 30-04-2018 to 04-05-2018

• 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.89/Kg for Kandla and 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 remained firm for this week in domestic market. Prices were assessed at the level of Rs.88-89/Kg for bulk quantity.
• CIF India prices were assessed in the range of USD 1220-1240, slightly reduced by USD 20/MT in compare to last week’s closing values.
• This week crude oil prices have fluctuated. On Thursday, prices boosted by OPEC production cuts and the potential for new U.S. sanctions against Iran, but gains were limited by growing U.S. crude inventories.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.43/bbl; prices have increased by $0.50/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.26/bbl in compared to last trading and was assessed around $73.62/bbl.
• As per report, U.S. oil production also rose to a record of 10.62 million barrels per day (bpd), a jump of more than a quarter since mid-2016. Looming over markets is the May 12 deadline by when President Donald Trump is due to decide whether or not to continue waiving U.S. sanctions against Iran.

$1 = Rs. 67.63
Import Custom Ex. Rate USD/ INR: 67.50
Export Custom Ex. Rate USD/ INR: 65.80