Butyl Acetate Weekly Report 09 Sep 2017

Weekly Price Trend: 04-09-2017 to 08-09-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices has gained heavily for this week.
• Butyl Acetate prices were assessed at the level of Rs.92/Kg for Kandla and 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 improved for this week. Demand has improved heavily in domestic markets. Prices were assessed at the level of Rs. 92/Kg for Kandla and Mumbai port of India.

• CIF India prices were assessed in the range of USD 950-970/MT, increased by USD 60/MTS in compare to last week’s closing values.
• This week oil prices have followed mixed trend. Oil futures eased on Thursday on a slightly bigger-than expected U.S. crude inventory build as the restart of U.S. refiners after Hurricane Harvey was being countered by the threat of Hurricane Irma. On Thursday, closing crude values have remained mixed.WTI on NYME closed at $49.09/bbl, prices have decreased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.29/bbl in compared to last trading and was assessed around $54.49/bbl. As per market players supplies of crude remained sufficient to meet demand.
• The major petrochemical plants of the country are located on these sites. To take a precautionary action major companies like Exxon Mobil, LyondellBasel, Celanese and many more has shut down their units abruptly.  Formosa has shut down its ports and units along with Dow chemical. Petrobras has shut down its Pasadena refinery. Shell has shut down its refinery and unit. Arkema reported explosion in its unit on Thursday.
• There has been rise in international prices in international market. Due to heavy rainfall and disruption of transportation there has been limited supply of the chemical across all major Indian markets.

$1 = Rs. 63.78
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.25