Butyl Acetate Weekly Report 06 Oct 2018

Weekly Price Trend: 01-10-2018 to 05-10-2018

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices slightly increased for this week.
• Butyl Acetate prices were assessed at the level of Rs.95/Kg for Mumbai and Rs.93/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 improved for this week. The rise has been in the entire petrochemical product chain throughout this week. Domestic market is flooded with inflation in petrochemical product values in particularly due to swelling of crude prices.
• Prices were assessed at the level of Rs.95/Kg for Mumbai and for Rs.93/Kg Kandla port for bulk quantity.
• Prices in the international market remained firm with no change for this week. CIF India prices were assessed in the range of USD 1230-1250, stable in compare to last week’s
• China market has remained closed for this week as the nation is celebrating Golden week festival.
• There has been heavy fluctuation in crude prices in this week. As the month of November is approaching fast the heat of sanction felt in the crude values across the world.
• On Thursday crude prices plunged due to rise in the inventory levels in US. But this hike was again pulled back on Thursday. Saudi Arabia and Russia has stated they will increase the crude supply but could not fill the void created by disruption of supply from Iran.
• With short supply from the price for crude is likely to reach a mark of $90 to $100 per barrel. On Wednesday, Saudi Energy Minister Khalid al-Falih said the kingdom was pumping near record levels and would raise output in November. Saudi Arabia is one of the few countries with the ability to significantly raise output. Many experts believe that the spar capacity of specified by Saudi is merely a statement but does exist in reality.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $74.33/bbl. Prices have decreased by $2.08/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.71/bbl in compare to last closing price and was assessed around $84.58/bbl.

$1 = Rs. 73.78
Import Custom Ex. Rate USD/ INR: 74.60           
Export Custom Ex. Rate USD/ INR: 72.90