Butyl Acetate Weekly Report 30 Dec 2017

Weekly Price Trend: 25-12-2017 to 29-12-2017

• 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.78/Kg for Kandla and for Mumbai ports of India. Prices reduced from the level of Rs.80/Kg to Rs.78/Kg. This has been particularly due to limited supply of the chemical coupled with rise in demand in domestic market.

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 for this week. Prices were assessed at the level of Rs.78/Kg for bulk quantity. Slowdown in the values has been particularly due to limited supply of the chemical in Indian market.
• CIF India prices were assessed in the range of USD 1020-1040/MT, with no change in compare to last week’s closing values.

This week crude oil prices have remained fluctuating. As 2017 draws to a close, On Thursday oil prices increased on lifted by strong data from top importer China and on increased U.S. refining activity that drew more crude from inventories. Recently,  thin trading activity ahead of the New Year weekend.

As per report, market condition has been tight due to ongoing supply cuts led by OPEC, as well as top producer Russia.

On Thursday, closing crude values have increased. WTI on NYME closed at $59.84/bbl; prices have increased by $0.20/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.28/bbl in compared to last trading and was assessed around $66.72/bbl.

As per market analyst, In the first half of 2018, market will remain quite bullish as Saudi Arabia continues to signal its intent to privatize part of Saudi Aramco, the state-owned oil company, in an initial public offering expected in late 2018. As such, the Saudis will be quite motivated to keep prices up going into that sale. The risk to that outlook could become apparent if Russia stops cooperating, which has been a significant tipping factor in the cuts' effectiveness.

$1 = Rs. 63.87
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.20