Butyl Acetate Weekly Report 22 July 2017

Weekly Price Trend: 17-07-2017 to 21-07-2017

• 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.

Total import at various ports in the month of June 2017

The above chart depicts the import of BA at various ports of India in the month of June 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 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 810-830/MT, reduced by USD 20/MT in compare to last week’s closing values.
• This week oil prices have followed volatile trend in the market. Oil prices jumped more than 1 percent on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories. 
• On Thursday, oil settled lower in uneven trading. Closing crude values have decreased.WTI on NYME closed at $46.92/bbl, prices have decreased by $0.40/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $49.30/bbl.
• Russia is ready to continue working with OPEC to help rebalance oil markets, Moscow welcomed a flexible approach by OPEC's leader Saudi Arabia to accommodate rising output from Nigeria and Libya, said by source.
• Market players predicted that prices would hold near current levels ahead of Monday's meeting between key OPEC and non-OPEC producers in St. Petersburg, Russia. The market has been watching reports that Saudi Arabia, the world's largest crude producer, is considering an additional supply cut to reduce the global glut.

$1 = Rs. 64.32
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95