Vinyl Acetate Monomer Weekly Report 04 March 2017

Weekly Price Trend: 27-02-2017 to 03-03-2017

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• VAM prices improved for this week. In compare to last week’s closing values there has been heavy rise in domestic prices. By end of the week prices were assessed around Rs.57/Kg for Kandla port and Rs.59/Kg 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.57/Kg at Kandla and Rs.59/Kg for Mumbai ports, with an significant rise in domestic prices.
• CFR India values were assessed in the range of USD 775-795/MTS, with an increase of USD 35/MTS in compare to last week’s closing values.
• Oil prices remained variable throughout his week. Oil prices headed lower on Thursday to log their lowest finish in last three weeks, as U.S. government data showed that domestic crude inventories hit a record production and production edged higher last week.
• As per market sources, the high crude stockpile levels in the U.S. is the one of the major reasons behind oil’s recent inability.
• On Friday, oil prices rose as the United States imposed sanctions on some Iranian individuals and entities.
• The increasing U.S. crude output in recent months has largely offset the continuing production cuts by the OPEC and Russia. The two counterforce’s are keeping prices in a slim range, said by analysts.
• Market predictors are anticipating that the respite to continue for more weeks with the next major price mover likely to be OPEC’s meeting at the end of May in which members will decide whether to extend the cuts beyond the initial six-month period.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $52.61/bbl, prices have decreased by $1.22/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.28/bbl in compared to last trading and was assessed around $55.08/bbl.

$1 = Rs. 66.81
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00