Vinyl Acetate Monomer Weekly Report 02 Dec 2017

Weekly Price Trend: 27-11-2017 to 01-12-2017

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• There has been significant hike in domestic values for VAM. This hike has been due to tight supply of the chemical in domestic market.
• By end of the week prices were assessed around Rs.76/Kg for Kandla port and Rs.76.5/Kg for Mumbai port.

Booking Scenario

The above chart shows the international prices for Vinyl Acetate Monomer. International prices of VAM reduced heavily for this week in compare to last Friday’s assessed level.

INDIA & INTERNATIONAL

• VAM prices were assessed at the level of Rs.76/Kg at Kandla and Rs.76.5/Kg for Mumbai port for bulk quantity.
• On other side, CFR India values reduced heavily for this week. Prices were assessed in the range of USD 1010-1030/MTS, declined by USD 100/MTS in compare to last week’s closing values.
• On other side there has been weakening in values in Acetic Acid market. Prices were assessed in the range of USD 580-600/MTS.
• This week crude oil prices have followed mixed trend. On Thursday oil prices have escalated OPEC members, Russia and nine other producers agreed to extend a deal to limit their production through 2018.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.40/bbl; prices have decreased by $0.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.46/bbl in compared to last trading and was assessed around $63.57/bbl
• As per report, the producers will indeed review the deal at the next OPEC meeting in June. Some markets were concerned that a nine-month extension could cause markets to quickly tighten, leading to undersupply that results in a price spike. Oil watchers also warn that a rise in prices will give U.S. shale drillers an incentive to flood the market. Russia has expressed concern that its oil companies will continue to lose market share to American producers, who are exporting record levels of crude.

$1 = Rs. 64.46
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50