Butyl Acetate Weekly Report 3 Feb 2017

Weekly Price Trend: 30-01-2017 to 03-02-2017

• 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.62/Kg for Kandla and Rs.63/Kg 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 stable for this week. Prices were assessed at the level of Rs63/Kg for Mumbai port and Rs.62/Kg for Kandla and of India.

• International prices of Butyl Acetate remained unchanged for this week. CIF India prices were assessed in the range of USD 740-760/MT, with no change in compare to last week’s closing values.
• Acetic acid for CIF India prices were assessed at the level of USD 395/MT, with no change in compare to last week’s closing values.
• Asian markets remained stable as key player China has been out of focus. Chinese markets are closed on back of mini vacation to celebrate Dragon festival. Market activities will resume its operations in next week.
• Oil prices remained volatile for this week. On Thursday oil prices settled on lower note as rising oil stockpiles in American storage facilities has maintained a balance with respect to cutting down of production by OPEC and other major exporters.
• U.S. crude oil inventories rose last week by an unexpected 6.5 million barrels to 494.76 million barrels. Recently Heightened tensions raise fears that the United States will pull out of the Iran nuclear deal or impose new sanctions, which could affect Tehran's ability to continue ramping up oil production.
• According to market reports, crude oil imports were increased again and market has been bullish, as the Gulf Coast considering a big increase in crude oil inventories. Market players have said that any expectations of a sustained recovery in price will depend on increasing efforts by OPEC to curb output though the prospect of an upside breakout will be destabilized by the growing revival in U.S. crude production.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $53.54/bbl, prices have decreased by $0.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.24/bbl in compared to last trading and was assessed around $56.56/bbl.

$1 = Rs. 67.31
Import Custom Ex. Rate USD/ INR: 68.40
Export Custom Ex. Rate USD/ INR: 66.70