Butyl Acetate Weekly Report 22 April 2017

Weekly Price Trend: 17-04-2017 to 21-04-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices remained stable for this week.
• Butyl Acetate prices were assessed at the level of Rs.62/Kg for Kandla and Mumbai ports of India.

Total import at various ports in the month of March 2017

The above chart depicts the import of BA at various ports of India in the month of March 2017.

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 increased for this week. CIF India prices were assessed in the range of USD 770-790/MT, with a increase of USD 30/MT in compare to last week’s closing values.
• This week oil prices followed mixed trend. On Wednesday oil slumped after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply.
• According to reports, the surprise builds in gasoline, along with an increase in U.S. production and imports from OPEC nations, pressured prices. With just weeks to go before OPEC and other producers have to sign off on a new deal to hold down production. OPEC technical staff this month is expected to make a recommendation on whether to extend the cuts, and OPEC's monitoring committee meets the day before OPEC's May 25 meeting.
• Market players have said that to prevent a further ballooning in supplies, some OPEC producers including Saudi Arabia and Kuwait are lobbying to extend the pledge to cut production beyond June.
• On Thursday, closing crude values have remained mixed.WTI on NYME closed at $50.27/bbl, prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $52.99/bbl.

$1 = Rs. 64.61
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85