Butyl Acetate Weekly Report 25 March 2017

Weekly Price Trend: 20-03-2017 to 24-03-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices reduced significantly for this week.
• Butyl Acetate prices were assessed at the level of Rs.63/Kg for Kandla and Rs.64/Kg for Mumbai ports of India.

Total import at various ports in the month of February 2017

The above chart depicts the import of Butyl Acetate at various ports of India in the month of February 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 reduced for this week. Prices were assessed at the level of Rs.63/Kg for Mumbai port and Rs.64/Kg for Kandla port of India.

• International prices of Butyl Acetate remained unchanged for this week. CIF India prices were assessed in the range of USD 840-860/MT, with no change in compare to last week’s closing values.
• Price trend for crude values remained thin with very few changes. Oil prices plunged initially as U.S. crude inventories increased faster than expected, piling pressure on OPEC to extend output cuts beyond June. Now investors await a meeting between OPEC and its allies that may signal whether they will extend output curbs.
• As per sources, American crude output continued to rise along with inventories, while OPEC won’t formally decide until May whether to extend production curbs, officials will meet this weekend in Kuwait to discuss their deal’s progress.
• Market analyst said that without the production cut agreement, prices could basically target the low-to-mid $30, players are positive that they will extend production cut. Some players are anticipating lowering prices due to high supplies.
• On Monday WTI were closed at $49.31 and Brent closed at $51.76 while on Thursday, closing crude values have decreased.WTI on NYME closed at $47.70/bbl, prices have decreased by $0.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $50.56/bbl.

$1 = Rs. 65.41
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50