Butyl Acetate Weekly Report 23 June 2018

Weekly Price Trend: 18-06-2018 to 22-06-2018

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices remained weak for this week.
• Butyl Acetate prices were assessed at the level of Rs.98/Kg for Mumbai and for Kandla ports of India.

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

The above chart depicts the import of BA at various ports in the month of May 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 remained weak for this week in domestic market. Prices were assessed at the level of Rs.98/Kg for bulk quantity.
• CIF India prices were assessed in the range of USD 1390-1410, increased by USD 20/MTS 50/MT in compare to last week’s closing values.
• There has been chaos in international prices as custom Indian exchange rate has also increased to significant level. Crisis in international market due to imposition of trade tariffs on China by US and even India has also imposed tariffs on imports of goods from US.
• This week crude oil prices have followed volatile trend. on Thursday Global benchmark Brent crude extended losses ahead of Friday's meeting of the OPEC, where producers are expected to boost output.
• On Thursday, closing crude values have plunged. WTI on NYME closed at $65.54/bbl; prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.69/bbl in compare to last closing price and was assessed around $73.05/bbl.
• Today oil prices rose by more than 1 percent in early Asian trading, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.
• Iran had been expected to oppose any rise in crude output, but it has now signalled it may support a small increase. As per report, presently oil market had now rebalanced and its aim was to prevent a shortage of crude in future that could squeeze the market.

$1 = Rs. 67.84
Import Custom Ex. Rate USD/ INR: 69.10                       
Export Custom Ex. Rate USD/ INR: 67.40