Vinyl Acetate Monomer Weekly Report 12 Aug 2017
Weekly Price Trend: 07-08-2017 to 11-08-2017
- The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
- VAM prices remained volatile for most of the week.
- By end of the week prices were assessed around Rs.62/Kg for Kandla port and Rs.64/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.62/Kg at Kandla and Rs.64/Kg for Mumbai port for bulk quantity.
- On other side, CFR India values remained unchanged for this week. Prices were assessed in the range of USD 860-880/MTS, with no change in compare to last week’s closing values.
- CIF India prices of Acetic acid were assessed around USD 420-440/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 crude oil prices followed volatile trend and on Thursday market closed on weaker note. Oil prices fell more than 1.5 percent on Thursday, to hit two-week lows, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories.
- On Thursday, closing crude values have decreased.WTI on NYME closed at $48.59/bbl, prices have decreased by $0.97/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.80/bbl in compared to last trading and was assessed around $51.90/bbl.
- Investors were also keeping a close eye on the broad market impact of tensions between the United States and North Korea. Recently Crude oil prices failed to hold recent gains, with a nervous market starting to doubt recent falls in inventories.
- As per report, OPEC is curbing output by about 1.2 million bpd, while Russia and other non-OPEC producers cut half as much, until March 2018.
$1 = Rs. 64.13
Import Custom Ex. Rate USD/ INR: 64.55
Export Custom Ex. Rate USD/ INR: 62.85
