Butyl Acetate Weekly Report 14 July 2018

Weekly Price Trend: 09-07-2018 to 13-07-2018

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices remained weak for this week.
• Butyl Acetate prices were assessed at the level of Rs.94/Kg for Mumbai and for Kandla 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 reduced in the domestic market. Prices were assessed at the level of Rs.94/Kg for Mumbai and for Kandla port for bulk quantity.
• CIF India prices were assessed in the range of USD 1310-1330-1110, increased by USD 40/MTS in compare to last week’s closing values.
• Prices in Indian market are likely to remain weak as there are heavy rains in Mumbai and western part of India. There is a huge impact of monsoon season on the demand for majority of petchem products.
• Prices in Indian market are likely to remain weak as there are heavy rains in Mumbai and western part of India. There is a huge impact of monsoon season on the demand for majority of petchem products.
• This week crude oil prices have followed mixed trend. On Thursday  oil prices steadied, after the International Energy Agency's warned that the world's oil supply cushion "might be stretched to the limit" due to production losses in several different countries.
• Brent prices rallied on Thursday, recouping some ground following sharp losses the previous session after Libya said it would resume oil exports. Brent crude oil gained 59 cents a barrel to trade at $74/bbl. On Wednesday, the global benchmark slumped $5.46, its biggest one-day fall in two years.     
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $70.33/bbl; prices have decreased by $0.05/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.05/bbl in compare to last closing price and was assessed around $74.45/bbl.
• As per report, inventories at the Cushing, Oklahoma, delivery hub had fallen 929,399 barrels from July 6 to July 10. Supply to the U.S. market has also been squeezed by the loss of some Canadian oil production.
• The pullback has not yet derailed the possibility that Brent will recover to above $80 a barrel by the end of the year. Market players said t hat that if Brent pulls to below $70 a barrel, there is less of a chance that the market will recover as quickly.

$1 = Rs. 68.52
Import Custom Ex. Rate USD/ INR: 69.70                       
Export Custom Ex. Rate USD/ INR: 68.00