Vinyl Acetate Monomer Weekly Report 03 Feb 2018

Weekly Price Trend: 29-01-2018 to 02-02-2018

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• There has been weakening in domestic values for VAM. By end of the week prices were assessed around Rs.74.5/Kg for Kandla port and for Mumbai port.

Booking Scenario

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

INDIA & INTERNATIONAL

• VAM prices were assessed at the level of Rs.74.5/Kg at Kandla and for Mumbai port for bulk quantity.
• Last week there was an unprecedented hike in international prices for VAM. This week prices remained firm with slight slowdown in international market. Prices were assessed in the range of USD 1090-1110/MTS, with no change in compare to last week’s closing values.
• With announcement of budget 2018 on Thursday, the petrochemical sector of India has remained subdued. With upsurge in crude values in international market and increasing currency rate are symptoms for weak economic growth and slowdown in economic development.
• This week oil prices have followed volatile trend. Goldman Sachs on Thursday raised its 2018 oil price forecasts, projecting that Brent crude will soon top $80, fueled by blockbuster oil demand, a deal among big producers to limit output and U.S. drillers' inability to meet the world's growing energy appetite.
• On Thursday, closing crude values have increased. WTI on NYME closed at $65.80/bbl; prices have increased by $1.07/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 $69.08/bbl.
• On Friday oil prices showed strong compliance with output cuts by OPEC and others including Russia, offsetting concerns about surging U.S. production.
• Goldman recently raised its 2018 forecast for oil demand growth to 1.86 million barrels a day from 1.73 million barrels a day. it introduced its 2019 demand forecast at 1.6 million barrels a day but said economic growth around the world means consumption could be even stronger.

$1 = Rs. 64.06
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.85