Butyl Acrylate Monomer Weekly Report 15 April 2017

Weekly Price Trend: 10-04-2017 to 14-04-2017

• 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.96/Kg for ex Kandla for bulk quantity reduced by Rs.3/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.96/Kg with a decrease of Rs.3/Kg in compare to last week’s closing values.
• On contrary, CIF India prices of BAM were assessed at the level of USD 1320-1340/MT (Full Duty), with an increase of USD 80/MTS in compare to last week’s closing values. This has been due to mixed price trend in crude values in global market.
• Severe volatility was observed in the crude prices for this week. Still the market sentiments by end of the week remained strong with prompting crude prices to close on higher note. Yesterday some stability was seen global oil market as demand and supply was on matching hand due to fall in the stockpiles in developed nations in the month of March.
• According to recent reports, the market has been oversupplied since last three years, prompting members of the OPEC and some non-OPEC producers to agree to cut output in the first six months of 2017 to rein in the glut. OPEC meets on May 25 to consider extending the cuts beyond June.
• On other side there has been continuous rise in oil production in U.S., both onshore and offshore, which will act as a headwind for the market.
• As per market analyst, refinery runs are picking up, and driving season is around the corner, so inventories will start going down soon. Amid so much uncertainty, the only thing that is certain is that crude oil production is growing, and there are no signs that this will change while the going is good and prices stay above $50 a barrel.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.18/bbl, prices have increased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $55.89/bbl.

$1 = Rs. 64.41
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50