Vinyl Acetate Monomer Weekly Report 01 Sep 2018
Weekly Price Trend: 27-08-2018 to 31-08-2018
- The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
- Prices have improved significantly in domestic market on back of improved supply coupled with significant hike in the prices of Acetic Acid.
- By end of the week prices were assessed around Rs.93/Kg for Mumbai port and for Kandla port.
Booking Scenario
The above chart shows the international prices for Vinyl Acetate Monomer. International prices of VAM reduced heavily for this week. VAM with zero duty was available at USD 1110/MT in for traders.
INDIA & INTERNATIONAL
- VAM prices were assessed at the level of Rs.91/Kg at Kandla and Rs.92/Kg for Mumbai port bulk quantity.
- There has been significant slowdown in Acetic Acid values in international market. CFR India prices were assessed around USD 630/MT. This in turn has led to upward trend in the prices for VAM. CFR India values were assessed around USD 1180/MT for this week.
- This week oil prices have followed volatile trend. On Thursday oil prices increased due to extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. crude inventories.
- On Thursday, closing crude values have increased. WTI on NYME closed at $70.25/bbl. Prices have increased by $0.74/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.63/bbl in compare to last closing price and was assessed around $77.77/bbl.
- As per report, Brent has risen by almost 10 percent over the past two weeks on widespread perceptions that the global oil market is tightening and could run short in the next few months as U.S. sanctions restrict crude exports from Iran.
- Market players have said that market will remain tight towards the end of the year because of falling supply in countries such as Iran and Venezuela combined with strong demand, especially in Asia.
$1 = Rs. 70.99
Import Custom Ex. Rate USD/ INR: 71.10
Export Custom Ex. Rate USD/ INR: 69.40
