Vinyl Acetate Monomer Weekly Report 05 Aug 2017

Weekly Price Trend: 31-07-2017 to 04-08-2017

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• VAM prices reduced slightly for this week.
• By end of the week prices were assessed around Rs.63/Kg for Kandla port and Rs.64.5/Kg for Mumbai port.

Booking Scenario

The above chart shows the international prices for Vinyl Acetate Monomer. International prices of VAM decreased slightly for this week in compare to last Friday’s assessed level.
INDIA & INTERNATIONAL

• VAM prices were assessed at the level of Rs.63/Kg at Kandla and Rs.64.5/Kg for Mumbai port for bulk quantity.
• On other side, CFR India values increased heavily for this week. Prices were assessed in the range of USD 860-880/MTS, increased by USD 90/MTS in compare to last week’s closing values.

• CIF India prices of Acetic acid were assessed around USD 390-410/MTS, gain of USD 20/MTS in compare to last week’s closing values. The overall market trend remained volatile throughout this week with majority of chemicals witnessing slowdown in international values.

• This week prices followed mixed trend. On Thursday oil prices plunged as watchful buying dried up after U.S. crude rose to nearly $50 a barrel. On Thursday, WTI on NYME closed at $49.03/bbl, prices have decreased by $0.56/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.35/bbl in compared to last trading and was assessed around $52.01/bbl.
• Investors are looking forward for OPEC meeting which is to be held next week for fresh insight into the oil cartel's commitment to improve compliance with the deal to curb production.
• However, market participants downplayed the importance of the meeting to be held next week, suggesting oil prices may struggle to sustain the current rising trend.
• According to reports, there will be reluctance in production cuts or a sustained uptick in demand, prices are likely to remain in the low to mid $50s for the remainder of the year. There are signs that the oil industry has adapted to an era of low prices and can produce and operate at levels that would previously have been uneconomic.

$1 = Rs. 63.58
 Import Custom Ex. Rate USD/ INR: 64.55
 Export Custom Ex. Rate USD/ INR: 62.85