Butyl Acrylate Monomer Weekly Report 06 Oct 2018

Weekly Price Trend: 01-10-2018 to 05-10-2018

• 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 remained firm for this week.
• Prices of BAM were assessed at the level of Rs.124/Kg for ex Kandla for bulk quantity increased 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.

 INDIA & INTERNATIONAL

• Domestic values for BAM remained firm for this week. Prices were assessed at the level of Rs.124/Kg for bulk quantity.
• CIF India prices of BAM were assessed at the level of USD 1480-1500/MT (Full Duty), increased by USD 10/MTS for this week.
• The rise in the domestic prices has been due to increase in its demand in paints, sealants and coating industries. With approaching festive across the country demand for paints has increased incredible.
• There has been slowdown in Asian market as China the leader of petrochemical industry in Asiatic region has pulled down itself from any fresh trading. There will be nation holidays in China next as a result traders are reluctant to make any new purchases
• China market remained closed for this week. The nation is celebrating National holidays  as a result traders are reluctant to make any new purchases.
• Declining Indian currency is creating new records against dollar and is also one of the main reasons for rise in petrochemical prices.
• There has been heavy fluctuation in crude prices in this week. As the month of November is approaching fast the heat of sanction felt in the crude values across the world.
• On Thursday crude prices plunged due to rise in the inventory levels in US. But this hike was again pulled back on Thursday. Saudi Arabia and Russia has stated they will increase the crude supply but could not fill the void created by disruption of supply from Iran.
• With short supply from the price for crude is likely to reach a mark of $90 to $100 per barrel. On Wednesday, Saudi Energy Minister Khalid al-Falih said the kingdom was pumping near record levels and would raise output in November. Saudi Arabia is one of the few countries with the ability to significantly raise output. Many experts believe that the spar capacity of specified by Saudi is merely a statement but does exist in reality.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $74.33/bbl. Prices have decreased by $2.08/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.71/bbl in compare to last closing price and was assessed around $84.58/bbl.

$1 = Rs. 73.78
Import Custom Ex. Rate USD/ INR:  74.60
Export Custom Ex. Rate USD/ INR:  72.90