Butyl Acetate Weekly Report 20 Oct 2018

Weekly Price Trend: 15-10-2018 to 19-10-2018

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices slightly increased for this week.
• Butyl Acetate prices were assessed at the level of Rs.95/Kg for Mumbai and Rs.93/Kg 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 slightly reduced for this week. There has been slowdown in values of many petrochemical products. Prices tend to settle down as it increased abruptly in last few weeks.
• Prices were assessed at the level of Rs.95/Kg for Mumbai and for Rs.93/Kg Kandla port for bulk quantity.
• Prices in the international market remained firm with no change for this week. CIF India prices were assessed in the range of USD 1230-1250, stable in compare to last week’s

• There has been significant decline in crude prices in last two weeks. Prices plunged by more than 11 % in last two weeks. Oil prices rose to nearly four-year highs at the start of October as there has been depletion in crude supply sue to US sanctions on Iran.
•  Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
• The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
• The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.

$1 = Rs. 73.32
Import Custom Ex. Rate USD/ INR: 74.30           
Export Custom Ex. Rate USD/ INR: 72.60