Butyl Acetate Weekly Report 19 May 2018

Weekly Price Trend: 14-05-2018 to 18-05-2018

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices increased heavily for this week.
• Butyl Acetate prices were assessed at the level of Rs.96/Kg for Kandla and for Mumbai ports of India.

Total import of BA at various ports in the month of March 2018

The above chart depicts the import of BA at various ports in the month of April 2018.

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 in domestic market. Prices were assessed at the level of Rs.100-102/Kg for bulk quantity.
• CIF India prices were assessed in the range of USD 1230-1250, reduced by USD 40/MT in compare to last week’s closing values.
• This week crude oil prices escalated. Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall because of renewed U.S. sanctions, reducing supply in an already tightening market.
• On Thursday, closing crude values have increased. WTI on NYME closed at $71.49/bbl; prices have increased remained firm in compared to last closing prices. While Brent on InterContinental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $79.30/bbl.
• As per market report, The potential loss of 1 million barrels of Iranian crude from the world market and the ongoing decline of Venezuela's oil sector could push oil prices beyond $100/b. Global inventories of crude oil and refined products dropped sharply in recent months owing to robust demand and OPEC-led production cuts.
• Several banks have in recent days raised their oil price forecasts, citing tighter supplies and strong demand. Shell said it was halting crude exports from a major Nigerian pipeline.
• French petrochemical firm Total said that it may pull out all its investments from Iran where again sanctions has been imposed by US unless the sanctions relief is provided to the firm.
• Total has invested in Iran in South Pars along with Chinese firm CNPC and Iranian firm Petropars. Total itself holds 50.1% stake in South Pars Phase 11 with China’s state-owned CNPC owning 30% and Iran's Petropars 19.9%.

$1 = Rs. 68.00
Import Custom Ex. Rate USD/ INR: 68.65                                   
Export Custom Ex. Rate USD/ INR: 66.95