Butyl Acetate Weekly Report 28 July 2018

Weekly Price Trend: 23-07-2018 to 27-07-2018

• 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.94/Kg for Mumbai and Rs.93/Kg for Kandla 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 reduced in the domestic market. Prices were assessed at the level of Rs.94/Kg for Mumbai and for Rs.93/kg Kandla port for bulk quantity.
• On other side there has been improvement hike in the international prices. CIF India prices were assessed in the range of USD 1370-1390, reduced by USD 20/MTS in compare to last week’s closing values.
• Crude prices have been on increasing trend for this week.  On Wednesday US government released the data regarding the low inventory levels of crude. The inventory levels have reduced at max since 2015. With low inventory the worries about oversupply has now reduced which has affected the market in last few weeks.
• Oil prices rose on Thursday as Saudi Arabia suspended its shipments through strait in the Red Sea following an attack on two oil tankers by Yemen.
• Brent futures rose 61 cents to settle at $74.54 a barrel, a 0.8 percent gain. The contract earlier touched $74.83 a barrel, highest since July 16. U.S. West Texas Intermediate (WTI) crude futures were up 31 cents, settling at $69.61, a 0.5 percent gain.

$1 = Rs. 68.65
Import Custom Ex. Rate USD/ INR: 69.60                       
Export Custom Ex. Rate USD/ INR: 67.90