Vinyl Acetate Monomer Weekly Report 25 March 2017

Weekly Price Trend: 20-03-2017 to 24-03-2017

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• VAM prices reduced slightly for Mumbai port in this week. In compare to last week’s closing values there has been slight decline in domestic prices. By end of the week prices were assessed around Rs.57/Kg for Kandla port and Rs.58/Kg for Mumbai port.

Total import at various ports in the month of February 2017

The above chart depicts the import of VAM at various ports of India in the month of February 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.57/Kg at Kandla and Rs.58/Kg for Mumbai ports, with slight decline in domestic values.
• CFR India values were assessed in the range of USD 825-845/MTS, with an heavy decrease of USD 65/MTS in compare to last week’s closing values.
• Price trend for crude values remained thin with very few changes. Oil prices plunged initially as U.S. crude inventories increased faster than expected, piling pressure on OPEC to extend output cuts beyond June. Now investors await a meeting between OPEC and its allies that may signal whether they will extend output curbs.
• As per sources, American crude output continued to rise along with inventories, while OPEC won’t formally decide until May whether to extend production curbs, officials will meet this weekend in Kuwait to discuss their deal’s progress.
• Market analyst said that without the production cut agreement, prices could basically target the low-to-mid $30s, players are positive that they will extend production cut. Some players are anticipating lowering prices due to high supplies.
• On Monday WTI were closed at $49.31 and Brent closed at $51.76 while on Thursday, closing crude values have decreased.WTI on NYME closed at $47.70/bbl, prices have decreased by $0.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $50.56/bbl.

$1 = Rs. 65.41
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50