Butyl Acetate Weekly Report 27 May 2017

Weekly Price Trend: 22-05-2017 to 26-05-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices remained soft-to-stable for this week.
• Butyl Acetate prices were assessed at the level of Rs.60/Kg for Kandla and Rs 61/Kg for Mumbai 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 remained soft-to-stable for this week in domestic market. Prices were assessed at the level of Rs. 60/Kg for Kandla and Rs.61/KG for Mumbai port of India.

• CIF India prices were assessed in the range of USD 790-810/MT, with no change in compare to last week’s closing values.
• This week oil prices remained highly volatile. On Thursday, Crude oil prices plunged more than 5 percent below $49 per barrel, its biggest daily drop in last three weeks as OPEC members agreed to extend oil output cuts for nine months, crude oil traders pushed prices down by more than 4%.
• As per report, OPEC and some non-OPEC members agreed to extend oil supply cuts of 1.8 million barrels per day for a further nine months in a bid to stop waving prices. However, the move disappointed some who had hoped for longer or deeper cuts.
• As per market analyst, an initial six months of output reductions failed to shrink brimming crude stockpiles around the world. OPEC members need to curtail exports and take action to limit surging U.S. production to succeed this time.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.90/bbl, prices have decreased by $2.46/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $2.50/bbl in compared to last trading and was assessed around $51.46/bbl.

$1 = Rs. 64.44
Import Custom Ex. Rate USD/ INR: 65.30
Export Custom Ex. Rate USD/ INR: 63.60