Butyl Acetate Weekly Report 11 March 2017
Weekly Price Trend: 06-03-2017 to 10-03-2017
- The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
- Compares to previous week Butyl Acetate prices increased significantly for this week.
- Butyl Acetate prices were assessed at the level of Rs.67/Kg for Kandla and Rs.68/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 increased significantly for this week. Prices were assessed at the level of Rs.68/Kg for Mumbai port and Rs.67/Kg for Kandla port of India.
- International prices of Butyl Acetate witnessed correction in prices for this week. CIF India prices were assessed in the range of USD 840-860/MT, with an reduction of USD 50/MTS in compare to last week’s closing values.
- There has been toppling of crude values in this week. In last five days US oil prices plunge by 7.5% while Brent oil sink by 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
- According to reports, declining oil prices have helped U.S. and global energy companies to get back into the investing mode but yet experts believe that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.
- Market players foresee for OECD oil stocks to decline significantly this year will help the large OPEC cuts and robust global demand growth, to consider the recent drop in crude oil prices to be a good opportunity to enter into bullish option structures.
- On Thursday, closing crude values have plunged.WTI on NYME closed at $49.28/bbl, prices have decreased by $1.00/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.92/bbl in compared to last trading and was assessed around $52.19/bbl.
$1 = Rs. 66.60
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00
