Butyl Acetate Weekly Report 07 Oct 2017

Weekly Price Trend: 02-10-2017 to 06-10-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices increased for this week.
• Butyl Acetate prices were assessed at the level of Rs.90/Kg for Kandla and for Rs.92/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 stable to firm for this week. Demand has improved significantly in past few weeks in international market. Prices were assessed at the level of Rs. 90/Kg for Kandla and Rs.92/Kg for Mumbai port of India.
• CIF India prices were assessed in the range of USD 1040-1060/MT, remained unchanged in compare to last week’s closing values.
• Market sentiments remained stable as one of the major market of Asia, China remained closed due to golden week holidays. The Market will open now on Monday. So the demand remained lull from China
• Crude price remained volatile throughout this week. On Wednesday after slipping a bit oil prices rose again on Thursday based on expectations that Saudi Arabia and Russia would extend production cuts, although record U.S. exports and the return of supply from a Libyan oilfield dragged on the market.
• On Thursday, crude values closed on higher note. WTI on NYME closed at $50.79/bbl, prices have increased by $0.81/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.20/bbl in compared to last trading and was assessed around $57.00/bbl.
• As per market players, OPEC and other producers, including Russia, to cut oil output to boost prices could be extended to the end of 2018, instead of expiring in March 2018.

$1 = Rs. 65.38
Import Custom Ex. Rate USD/ INR: 65.95
Export Custom Ex. Rate USD/ INR: 64.30