Butyl Acrylate Monomer Weekly Report 06 May 2017

Weekly Price Trend: 01-05-2017 to 05-05-2017

• The above given graph focuses on the Butyl Acrylate Monomer price trend for current week.
• If we take a quick look at the above given weekly prices, it can be observed that prices declined significantly in this week.
• Prices of BAM were assessed at the level of Rs.76/Kg for ex Kandla for bulk quantity reduced by Rs.4/Kg in compare to last week’s closing values.

Booking Scenario

The above chart shows the international prices of BAM and its comparison from the previous prices. On Friday CFR India prices of BAM prices increased heavily this week.

INDIA & INTERNATIONAL

• BAM prices reduced significantly in domestic market for this week. By end of this week prices were assessed at the level of Rs.76/Kg with a decrease of Rs.4/Kg in compare to last week’s closing values.
• CIF India prices of BAM were assessed at the level of USD 1180-1200/MT (Full Duty), with a decrease of USD 60/MTS in compare to last week’s closing values. This has been due to mixed price trend in crude values in global market.
• Price trend in crude values continue to remain volatile. As week proceeded the weakening of crude values was observed. On Thursday oil prices crashed to five-month lows as concerns about global oversupply wiped out all of the price gains since OPEC's move to cut output.
• Analysts agreed the steep price falls would likely force OPEC members to extend production cuts later this month, but the prospect of deeper cuts appeared wiry. Again OPEC is scheduled to meet on May 25 to decide whether to extend the cuts.
• On Thursday, closing crude values decreased.WTI on NYME closed at $45.52/bbl, prices decreased by $2.30/bbl in compared to last closing values. While Brent on Inter Continental Exchange decreased by $2.41/bbl in compared to last trading and was assessed around $48.38/bbl.
• Market experts believe that the current rate of cuts is sufficient to result in demand outstripping global output by 1 million barrels a day in the second half of 2017 as seasonal demand picks up. It is becoming apparent that the profit margins of many of the chemical majors could be improved as oil prices have been declining with great pace.

$1 = Rs. 64.37
Import Custom Ex. Rate USD/ INR: 65.10
Export Custom Ex. Rate USD/ INR: 63.40