Butyl Acetate Weekly Report 3 June 2017

Weekly Price Trend: 29-05-2017 to 02-06-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices increased for this week.
• Butyl Acetate prices were assessed at the level of Rs.61/Kg for Kandla and Rs 62/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 like other aromatic products witnessed rise in domestic values. Prices were assessed at the level of Rs. 61/Kg for Kandla and Rs.62/Kg for Mumbai port of India.

• CIF India prices were assessed in the range of USD 820-840/MT, with an increase of USD 30/MT in compare to last week’s closing values.
• This week oil prices remained highly volatile. With a firm decision taken last week by OPEC, Russia and other producers to extend their agreement to curb output by 1.8 million barrels a day for another nine months, in order to rebalance the oil market, the bearish tone in the oil sector resurfaced.
• According to reports, U.S. oil supplies dropped by 6.4 million barrels last week, a positive for the market and a much bigger decline than expected. 
• On Thursday U.S. crude up slightly after a larger-than-expected domestic inventory drawdown.
• Closing crude values on Thursdayincreased.WTI on NYME closed at $48.36/bbl, prices have increased by $0.04/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $50.33/bbl.
• As per market report, U.S. production increased, and the expectation is that ongoing activity in U.S. shale will continue to boost output, offsetting OPEC efforts.

$1 = Rs. 64.44
Import Custom Ex. Rate USD/ INR: 65.35
Export Custom Ex. Rate USD/ INR: 63.70