Vinyl Acetate Monomer Weekly Report 10 Feb 2018

Weekly Price Trend: 05-02-2018 to 09-02-2018

• 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/Kg for Kandla port and for Mumbai port.

Total imports of VAM in the year 2017

The above graph depicts the total imports of VAM on monthly basis in the ear 2017. On an average 10000-12000 MT has been the imports every month in the country.

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/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 1060-1080/MTS, reduced by USD 20/MTS in compare to last week’s closing values.
• There has been increase in domestic values along with hike in international prices. But this hike was subdued as week progressed. In the latter half of the week there has been heavy decline in crude values which in turn led to slight weakening of other petrochemical products.
• This week crude oil prices have followed weak trend. Oil prices fell sharply after the U.S. government reported crude stockpiles rose by 1.9 million barrels. The increasing U.S. oil production and crude stockpiles, and stock market sell-off, piled pressure on oil prices this week. A stronger dollar has also been a prevailing factor the decline. But the supply dynamics are working against a sustained price rally.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $61.15/bbl; prices have decreased by $0.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.70/bbl in compared to last trading and was assessed around $64.81/bbl.
• As per market analyst oil market moves could be exaggerated because the number of bets that crude prices will keep climbing has risen sharply, while wagers that prices will fall have plunged. That extreme market positioning can encourage bouts of profit-taking.

$1 = Rs. 64.40
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.85