Butyl Acrylate Monomer Weekly Report 22 April 2017

Weekly Price Trend: 17-04-2017 to 21-04-2017

• 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.92/Kg for ex Kandla for bulk quantity reduced by Rs.3/Kg in compare to last week’s closing values.

Total import at various ports in the month of March 2017

The above chart depicts the import of Acetic Acid at various ports of India in the month of March 2017.

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.92/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 1240-1260/MT (Full Duty), with a decrease 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.
• This week oil prices followed mixed trend. On Wednesday oil slumped after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply.
• According to reports, the surprise builds in gasoline, along with an increase in U.S. production and imports from OPEC nations, pressured prices. With just weeks to go before OPEC and other producers have to sign off on a new deal to hold down production. OPEC technical staff this month is expected to make a recommendation on whether to extend the cuts, and OPEC's monitoring committee meets the day before OPEC's May 25 meeting.
• Market players have said that to prevent a further ballooning in supplies, some OPEC producers including Saudi Arabia and Kuwait are lobbying to extend the pledge to cut production beyond June.
• On Thursday, closing crude values have remained mixed.WTI on NYME closed at $50.27/bbl, prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $52.99/bbl.

$1 = Rs. 64.61
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85