Vinyl Acetate Monomer Weekly Report 19 May 2018

Weekly Price Trend: 14-05-2018 to 18-05-2018

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• There has been slowdown in domestic prices for this week.
• By end of the week prices were assessed around Rs.102/Kg for Kandla port and Mumbai port.

Total import of VAM at various ports of India in April 2018

The above chart depicts the import of VAM in the month of April 2018

Booking Scenario

The above chart shows the international prices for Vinyl Acetate Monomer. International prices of VAM increased heavily again for this week. VAM with zero duty was available at USD 1300/MT in for traders.

INDIA & INTERNATIONAL

• VAM prices were assessed at the level of Rs.106/Kg at Kandla and Mumbai port bulk quantity. There has been no change in values for this week.
• On other side prices in international market remained stable as prices increased in last week itself. The domestic market is facing the impact of unprecedented hike in last week in international market.
• Prices were assessed in the range of USD 1290-1310/MTS, with no change in compare to last week’s closing values.
• This week crude oil prices escalated. Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall because of renewed U.S. sanctions, reducing supply in an already tightening market.
• On Thursday, closing crude values have increased. WTI on NYME closed at $71.49/bbl; prices have increased remained firm in compared to last closing prices. While Brent on InterContinental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $79.30/bbl.
• As per market report, The potential loss of 1 million barrels of Iranian crude from the world market and the ongoing decline of Venezuela's oil sector could push oil prices beyond $100/b. Global inventories of crude oil and refined products dropped sharply in recent months owing to robust demand and OPEC-led production cuts.
• Several banks have in recent days raised their oil price forecasts, citing tighter supplies and strong demand. Shell said it was halting crude exports from a major Nigerian pipeline.
• French petrochemical firm Total said that it may pull out all its investments from Iran where again sanctions has been imposed by US unless the sanctions relief is provided to the firm.
• Total has invested in Iran in South Pars along with Chinese firm CNPC and Iranian firm Petropars. Total itself holds 50.1% stake in South Pars Phase 11 with China’s state-owned CNPC owning 30% and Iran's Petropars 19.9%.

$1 = Rs. 68.00
Import Custom Ex. Rate USD/ INR: 68.65
Export Custom Ex. Rate USD/ INR: 66.95