Vinyl Acetate Monomer Weekly Report 11 Feb 2017

Weekly Price Trend: 06-02-2017 to 10-02-2017

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• VAM prices reduced for this week. In compare to last week’s closing values there has been variation in domestic prices. By end of the week prices were assessed around Rs.50.5/Kg for Kandla port and Rs.51/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.50.5/Kg at Kandla and Rs.51.5/Kg for Mumbai ports, with an decline in domestic prices.
• CFR India values were assessed in the range of USD 715-735/MTS, with no change in compare to last week’s closing values.
• Crude oil prices again followed mixed throughout this week and by end of the week prices increased after an unexpected draw in U.S. gasoline inventories pointed to higher demand in the world's biggest oil market.
• According to reports, U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
• The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
• Market Analysts said that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.00/bbl, prices have increased by $0.66/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.51/bbl in compared to last trading and was assessed around $55.63/bbl.

$1 = Rs. 66.88
Import Custom Ex. Rate USD/ INR: 68.40
Export Custom Ex. Rate USD/ INR: 66.70