Vinyl Acetate Monomer Weekly Report 19 Aug 2017

Weekly Price Trend: 14-08-2017 to 18-08-2017

• 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.62/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.62/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, no change 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. Due to ongoing monsoon season demand for Acetic Acid also reduced in domestic consumption.

• Now with starting of festive season across the nation requirement for paints and coatings will increase will in turn boost up the demand for this chemical.

• There has been continuous oscillation in crude prices for this week.  On Thursday oil prices rose as renewed attention was put on U.S. oil stockpile declines at Cushing, the delivery hub for U.S. crude futures. 
• On Thursday, closing crude values have increased.WTI on NYME closed at $47.09/bbl, prices have increased by $0.31/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.76/bbl in compared to last trading and was assessed around $51.03/bbl.
• Market players further anticipate that crude oil prices are likely to trade sideways on the back of short covering after drop in prices. As per market predictors, the oil market has experienced a high level of disruptions to crude supply in recent years. Prices could spike above $70 a barrel if recently restored production in Nigeria and Libya falls again. But it could also sink below $40 if disruptions elsewhere in the world get resolved, putting more crude oil into the market.
• Moreover, OPEC reported its production continued to rise despite its supply quota deal with Russia. Analysts remain unconvinced that OPEC can re-balance the global oil markets without full participation from all cartel members.

$1 = Rs. 64.14
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45