Vinyl Acetate Monomer Weekly Report 28 April 2018

Weekly Price Trend: 23-04-2018 to 27-04-2018

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• There has been rise in domestic values for VAM. The local demand has compelled the prices to go on high range.
• By end of the week prices were assessed around Rs.92/Kg for Kandla port and Mumbai port.

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

The above chart depicts the import of VAM in the month of February 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.92/Kg at Kandla and Mumbai port bulk quantity. There has been significant hike in domestic market.
• On other side prices in international market witnessed a rising trend. Prices were assessed in the range of USD 1290-1310/MTS, increased by USD 70/MTS in compare to last week’s closing values.
• There has been significant hike in VAM prices in Asian market. One of the leading manufacturers of VAM, Celanese has increased its Ex China values by USD 100/MTS this week. The Reason specified for this hike is high cost of Acetic Acid and Ethylene which are its feedstocks.
• End users and traders do believe that this hike is unbearable for India buyers because many consumers will restrict their consumption for May as slowdown in demand is expected in the month of June and July due to monsoon showers. Moreover the feedstock values are not so high as specified by the company so its is difficult to digest these values.
• This week oil prices have followed little volatility at the end of the week prices have escalated. On Thursday oil prices increased, supported by expectations of renewed U.S. sanctions on Iran, declining output in Venezuela and ongoing strong demand.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.19/bbl; prices have increased by $0.14/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $74.74/bbl.
• Venezuela's plunging output and looming U.S. sanctions against Iran come against a backdrop of strong demand, especially in Asia, the world's biggest oil consuming region. However, not all market indicators point towards tighter supplies. Soaring U.S. oil production and exports are holding back further price gains.

$1 = Rs. 66.66
Import Custom Ex. Rate USD/ INR: 66.70
Export Custom Ex. Rate USD/ INR: 65.00