Butyl Acetate Weekly Report 29 April 2017

Weekly Price Trend: 24-04-2017 to 28-04-2017

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

• On contrary, international prices of Butyl Acetate remained stable for this week. CIF India prices were assessed in the range of USD 770-790/MT, with no change in compare to last week’s closing values.
• Throughout the week oil prices remained volatile. As per recent records oil prices reduced sharply.WTI from $53 a barrel, down to $48 while Brent declined from $55 to $51. The falling oil means weakening of economy, the reality is that oil is being driven by increased supply. On Thursday oil prices have plunged as the resume of two key Libyan oilfields and concerns about dreary gasoline demand fed concern over whether major oil producers can lessen the glut of global inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.97/bbl, prices have increased by $0.65/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.38/bbl in compared to last trading and was assessed around $51.44/bbl.
• As per market analyst As gas prices dropped, it created an undertow for the entire crude oil market. The outlook for oil prices will remain unstable. Decline in crude prices and therefore petroleum product prices also means corresponding reduction in prices of some of the raw materials for the petrochemical industry. Hence, it can be a factor in improving the profitability of that industry.

$1 = Rs. 64.24
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85