Butyl Acetate Weekly Report 30 Sep 2017

Weekly Price Trend: 25-09-2017 to 29-09-2017

• 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.90/Kg for Kandla and for Rs.91/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 increased significantly for this week. Demand has improved significantly for this week with a major hike in international market. Prices were assessed at the level of Rs. 90/Kg for Kandla and Rs.91/Kg for Mumbai port of India.
• There has been significant hike in the domestic values of BA by end of this week. This has been particularly due to festive season across the country and weakened supply of the chemical. With long weekend ahead, the supply has really declined and demand has also slow down. This upcoming festive season will continue to weaken the demand of the chemical.
• CIF India prices were assessed in the range of USD 1040-1060/MT, increased heavily by USD 90/MTS in compare to last week’s closing values.
• This week oil prices have followed mixed trend. Investors have really gained confidence in oil, after the OPEC cuts that were originally discussed earlier in the year are starting to take shape here, and oil production is being curbed.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $51.56/bbl, prices have decreased by $0.58/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.49/bbl in compared to last trading and was assessed around $57.41/bbl. Due to the combination of production cuts and growing demand, oil could head up to its 2017 high, just above $55, or even $60 per barrel by year-end. A global supply glut has plagued the market for several years, and OPEC member countries and non-member producers have vowed to implement cuts to curb such oversupply.

$1 = Rs. 65.28
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70