Vinyl Acetate Monomer Weekly Report 22 April 2017

Weekly Price Trend: 17-04-2017 to 21-04-2017

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• VAM prices improved significantly for in the starting of this week. In compare to last week’s closing values there has been rise in domestic prices.
• By end of the week prices were assessed around Rs.66/Kg for Kandla port andRs.69/Kg for Mumbai port.

Total import at various ports in the month of March 2017

The above chart depicts the import of VAM at various ports of India in the month of March 2017.

Booking Scenario

The above chart shows the international prices for Vinyl Acetate Monomer. International prices of VAM reduced heavily for this week in compare to last Friday’s assessed level.

INDIA & INTERNATIONAL

• VAM prices were assessed at the level of Rs.67/Kg at Kandla and Rs.69/Kg for Mumbai ports, with a rise of Rs.5/Kg in compare to last week’s closing values.
• Domestic market is on rise due to heavy sweep in the prices in international market. Higher demand with limited supply has pushed the VAM prices on peak.
• CFR India values were assessed in the range of USD 975-995/MTS, with an increase of USD 65/MTS in compare to last week’s closing values.
• This week oil prices followed mixed trend. On Wednesday oil slumped after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply.
• According to reports, the surprise builds in gasoline, along with an increase in U.S. production and imports from OPEC nations, pressured prices. With just weeks to go before OPEC and other producers have to sign off on a new deal to hold down production. OPEC technical staff this month is expected to make a recommendation on whether to extend the cuts, and OPEC's monitoring committee meets the day before OPEC's May 25 meeting.
• Market players have said that to prevent a further ballooning in supplies, some OPEC producers including Saudi Arabia and Kuwait are lobbying to extend the pledge to cut production beyond June.
• On Thursday, closing crude values have remained mixed.WTI on NYME closed at $50.27/bbl, prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $52.99/bbl.

$1 = Rs. 64.61
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85