Butyl Acetate Weekly Report 14 Oct 2017

Weekly Price Trend: 09-10-2017 to 13-10-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices reduced for this week.
• Butyl Acetate prices were assessed at the level of Rs.88/Kg for Kandla and for Rs.89/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 remained weak for this week. There has been slackness in demand basically due to festive season across the nation. Moreover the other major cities like Mumbai and down in south India are experiencing rainfall since past few weeks.
• CIF India prices were assessed in the range of USD 1040-1060/MT, remained unchanged in compare to last week’s closing values.
• The market is likely to remain slow due to festive across the nation. Moreover most of the markets will remain closed next week due to Diwali festival and will open only after next week.
• Tightening of pollution norms in China has been curtailing the production of the county to greater extent. Manufacturers are bound to produce the chemical in certain limit otherwise will face strict penalties by the government. Implementation of new environmental laws in China has already caused a decline in its chemicals exports and the trend is likely to accentuate in next few years. This has led to limited supply of the chemical within country and fall in exports. This upsurge has led to surging of cost of material and rise in manufacturing cost.
• There has been continuous oscillation in crude values for this week. On Thursday oil prices rebounded from earlier losses, but ended lower on the day, after the Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production.
• On Thursday, crude values closed on lower note. WTI on NYME closed at $50.60/bbl, prices have decreased by $0.70/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.69/bbl in compared to last trading and was assessed around $56.25/bbl.
• According to reports, the global outlook for oil markets in 2018 could put a dampener on hopes for higher prices. Market players said that supply growth in the final three months of the year would be supportive for oil prices in the fourth quarter. Oil prices could climb close to $60 a barrel in the "very short run."

$1 = Rs. 64.93
Import Custom Ex. Rate USD/ INR: 65.95
Export Custom Ex. Rate USD/ INR: 64.30