Butyl Acetate Weekly Report 09 Dec 2017

Weekly Price Trend: 04-12-2017 to 08-12-2017

• 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.80/Kg for Kandla and for Mumbai ports of India. Prices increased from the level of Rs.75/Kg to Rs.80/Kg. This has been particularly due to limited supply of the chemical coupled with rise in demand in domestic market.

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 increased significantly for this week in domestic market. Prices were assessed at the level of Rs.80/Kg for bulk quantity. Hike in the values has been particularly due to limited supply of the chemical in Indian market.
• CIF India prices were assessed in the range of USD 1010-1030/MT, with no change in compare to last week’s closing values.
• Crude oil prices remained mixed for this week. Oil rose on Thursday indicating that investors are doubtful of pushing the market lower in response to an unexpectedly large rise in U.S. stocks of refined products that has increased concern about the demand outlook.
• On Thursday, closing crude values have increased. WTI on NYME closed at $56.69/bbl; prices have increased by $0.73/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.98/bbl in compared to last trading and was assessed around $62.20/bbl.
• On Friday oil prices dipped as the U.S. dollar strengthened, although OPEC-led supply cuts are seen supporting markets going into next year.
• As per market players, Soaring U.S. output threatens to undermine efforts led by the OPEC and Russia to bring production and demand into balance following years of oversupply. The market suggests that the bull market is not as strong as earlier predicted. Oil prices saw a sharp 2.9 percent decline after the US published its inventory data. Analysts expect that oil prices to move in a price band of USD 45 to USD 60 for the calendar year 2018.

$1 = Rs. 64.46
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70