Butyl Acetate Weekly Report 11 Feb 2017

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

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices remained stable for this week.
• Butyl Acetate prices were assessed at the level of Rs.62.5/Kg for Kandla and Rs.63/Kg 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 stable for this week. Prices were assessed at the level of Rs63/Kg for Mumbai port and Rs.62.5/Kg for Kandla and of India.

• International prices of Butyl Acetate remained unchanged for this week. CIF India prices were assessed in the range of USD 740-760/MT, with no change in compare to last week’s closing values.
• Acetic acid for CIF India prices were assessed at the level of USD 385/MT, with an decrease of USD 10/MTS in compare to last week’s closing values.
• Crude oil prices again followed mixed throughout this week and by end of the week prices increased after an unexpected draw in U.S. gasoline inventories pointed to higher demand in the world's biggest oil market.
• According to reports, U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
• The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
• Market Analysts said that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.00/bbl, prices have increased by $0.66/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.51/bbl in compared to last trading and was assessed around $55.63/bbl.

$1 = Rs. 66.88
Import Custom Ex. Rate USD/ INR: 68.40
Export Custom Ex. Rate USD/ INR: 66.70