Butyl Acetate Weekly Report 15 July 2017

Weekly Price Trend: 10-07-2017 to 14-07-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices remained unchanged for this week.
• Butyl Acetate prices were assessed at the level of Rs.61/Kg for Kandla and Rs 62/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. With onset of monsoon season in the country. Prices were assessed at the level of Rs. 61/Kg for Kandla and Rs.62/Kg for Mumbai port of India.

• CIF India prices were assessed in the range of USD 830-850/MT, with an increase of USD 20/MTS in compare to last week’s closing values.

• This week Crude oil prices followed up an positive trend as Saudi Arabia is going to cut exports of crude oil to the United States, but this is going to be a short-term effect on the market as the United States becomes much more energy independent.
• On Thursday, closing crude values have increased.WTI on NYME closed at $46.08/bbl, prices have increased by $0.59/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.68/bbl in compared to last trading and was assessed around $48.42/bbl.
• As per market source, the oil market could stay oversupplied for longer than expected due to rising production and limited output cuts by some OPEC exporters. Rising consumption in Germany and the United States was helping boost oil demand. OPEC said its production rose by 393,000 barrels per day in June to 32.611 million bpd.

$1 = Rs. 64.45
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95