Butyl Acetate Weekly Report 10 Feb 2018

Weekly Price Trend: 05-02-2018 to 09-02-2018

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices remained volatile for this week.
• Butyl Acetate prices were assessed at the level of Rs.82/Kg for Kandla and for Mumbai ports of India. Prices.

Total imports of Butyl Acetate in the year 2017

The above graph depicts the total imports of BA on monthly basis in the ear 2017. On an average 2500-2600 MT has been the imports every month in the country.

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.82/Kg for bulk quantity.
• CIF India prices were assessed in the range of USD 1120-1140, with an increase of USD 70/MTS in compare to last week’s closing values.
• There has been increase in domestic values along with hike in international prices. But this hike was subdued as week progressed. In the latter half of the week there has been heavy decline in crude values which in turn led to slight weakening of other petrochemical products.
• This week crude oil prices have followed weak trend. Oil prices fell sharply after the U.S. government reported crude stockpiles rose by 1.9 million barrels. The increasing U.S. oil production and crude stockpiles, and stock market sell-off, piled pressure on oil prices this week. A stronger dollar has also been a prevailing factor the decline. But the supply dynamics are working against a sustained price rally.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $61.15/bbl; prices have decreased by $0.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.70/bbl in compared to last trading and was assessed around $64.81/bbl.
• As per market analyst oil market moves could be exaggerated because the number of bets that crude prices will keep climbing has risen sharply, while wagers that prices will fall have plunged. That extreme market positioning can encourage bouts of profit-taking.

$1 = Rs. 64.40
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.85