Butyl Acetate Weekly Report 15 April 2017

Weekly Price Trend: 03-04-2017 to 14-04-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices improved for this week.
• Butyl Acetate prices were assessed at the level of Rs.62/Kg for Kandla and 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 improved for this week in domestic market. Prices were assessed at the level of Rs.62Kg for Mumbai port and for Kandla port of India.

• On contrary, international prices of Butyl Acetate reduced for this week. CIF India prices were assessed in the range of USD 740-760/MT, with an decrease of USD 80/MT in compare to last week’s closing values.
• Severe volatility was observed in the crude prices for this week. Still the market sentiments by end of the week remained strong with prompting crude prices to close on higher note. Yesterday some stability was seen global oil market as demand and supply was on matching hand due to fall in the stockpiles in developed nations in the month of March.
• According to recent reports, the market has been oversupplied since last three years, prompting members of the OPEC and some non-OPEC producers to agree to cut output in the first six months of 2017 to rein in the glut. OPEC meets on May 25 to consider extending the cuts beyond June.
• On other side there has been continuous rise in oil production in U.S., both onshore and offshore, which will act as a headwind for the market.
• As per market analyst, refinery runs are picking up, and driving season is around the corner, so inventories will start going down soon. Amid so much uncertainty, the only thing that is certain is that crude oil production is growing, and there are no signs that this will change while the going is good and prices stay above $50 a barrel.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.18/bbl, prices have increased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $55.89/bbl.

$1 = Rs. 64.41
Import Custom Ex. Rate USD/ INR: 65.90
Export Custom Ex. Rate USD/ INR: 64.20