Vinyl Acetate Monomer Weekly Report 29 April 2017

Weekly Price Trend: 124-04-2017 to 28-04-2017

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• VAM prices reduced slightly for this week. In compare to last week’s closing values there has been fall in domestic prices.
• By end of the week prices were assessed around Rs.67/Kg for Kandla port and for Mumbai port.

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 for Mumbai ports. CFR India values were assessed in the range of USD 950-970/MTS, with an decrease of USD 25/MTS in compare to last week’s closing values.
• Throughout the week oil prices remained volatile. As per recent records oil prices reduced sharply.WTI from $53 a barrel, down to $48 while Brent declined from $55 to $51. The falling oil means weakening of economy, the reality is that oil is being driven by increased supply. On Thursday oil prices have plunged as the resume of two key Libyan oilfields and concerns about dreary gasoline demand fed concern over whether major oil producers can lessen the glut of global inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.97/bbl, prices have increased by $0.65/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.38/bbl in compared to last trading and was assessed around $51.44/bbl.
• As per market analyst As gas prices dropped, it created an undertow for the entire crude oil market. The outlook for oil prices will remain unstable. Decline in crude prices and therefore petroleum product prices also means corresponding reduction in prices of some of the raw materials for the petrochemical industry. Hence, it can be a factor in improving the profitability of that industry.

$1 = Rs. 64.24
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85