Vinyl Acetate Monomer Weekly Report 26 Aug 2017

Weekly Price Trend: 21-08-2017 to 25-08-2017

• 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.61/Kg for Kandla port and Rs.63.5/Kg for Mumbai port.

Total import at various ports in the month of July 2017

The above chart depicts the import of VAM at various ports of India in the month of  July 2017.
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.61/Kg at Kandla and Rs.63.5/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.
• This week crude oil prices have remained volatile. On Friday, oil prices rose as the U.S. petroleum industry prepared for potential output disruptions as Hurricane Harvey headed for the heart of the nation’s oil industry in the Gulf of Mexico.  The storm has rapidly intensified since Thursday while On Thursday closing crude values have decreased.WTI on NYME closed at $47.43/bbl, prices have decreased by $0.98/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.53/bbl in compared to last trading and was assessed around $52.04/bbl.
• As per report, Prices rose as production in the affected area shut down in preparation for the hurricane, and on expectations that closures could last if the storm causes extensive damage.
• Market players have said that traders expect more upward pressure as the storm gets closer to Texas. Oil prices, however, fell because refiners may use less supply due to the storm.
• It is anticipated that recently oil prices to trade higher on account of support coming from inventory withdrawals in the US. However, Libya’s rising output remains a cause of concern for oil markets.

$1 = Rs. 64.03
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45