Butyl Acetate Weekly Report 08 July 2017

Weekly Price Trend: 03-07-2017 to 07-07-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices remained unchanged for this week.
• Butyl Acetate prices were assessed at the level of Rs.59/Kg for Kandla and Rs 60/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 remained unchanged for this week with onset of monsoon season in the country. Prices were assessed at the level of Rs. 59/Kg for Kandla and Rs.60/Kg for Mumbai port of India.

• CIF India prices were assessed in the range of USD 810-830/MT, with no change in compare to last week’s closing values.
• This week oil prices followed volatile trend. On Thursday oil prices closed on slightly higher note after a sharp but short-lived boost from a much bigger-than-expected decline in U.S. inventories of crude oil and gasoline. WTI on NYME closed at $45.52/bbl, prices have increased by $0.39/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.32/bbl in compared to last trading and was assessed around $48.11/bbl. Market players said the surge was driven by traders closing out short positions, or bets that oil prices would fall.
• There's a lot of bearishness out there now the market still believes supplies are not going to be in balance globally. Investors believe the OPEC will need to make further output cuts to offset thriving shale production in the United States.
• U.S. gasoline stocks dropped 3.7 million barrels in the most recent week, far exceeding the expected drop of 1.1 million barrels. Still, gasoline inventories remain about 6 percent above seasonal averages, so investors will watch for July data to see if demand is strong enough to whittle down stocks.

$1 = Rs. 64.59
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95