Vinyl Acetate Monomer Weekly Report 11 March 2017
Weekly Price Trend: 06-03-2017 to 10-03-2017
- 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 slight hike in domestic prices. By end of the week prices were assessed around Rs.58/Kg for Kandla port and Rs.60/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.58/Kg at Kandla and Rs.60/Kg for Mumbai ports, with slight hike in domestic values.
- CFR India values were assessed in the range of USD 790-810/MTS, with an increase of USD 15/MTS in compare to last week’s closing values.
- There has been toppling of crude values in this week. In last five days US oil prices plunge by 7.5% while Brent oil sink by 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
- According to reports, declining oil prices have helped U.S. and global energy companies to get back into the investing mode but yet experts believe that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.
- Market players foresee for OECD oil stocks to decline significantly this year will help the large OPEC cuts and robust global demand growth, to consider the recent drop in crude oil prices to be a good opportunity to enter into bullish option structures.
- On Thursday, closing crude values have plunged.WTI on NYME closed at $49.28/bbl, prices have decreased by $1.00/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.92/bbl in compared to last trading and was assessed around $52.19/bbl.
$1 = Rs. 66.60
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00
