Vinyl Acetate Monomer Weekly Report 30 Sep 2017

Weekly Price Trend: 25-09-2017 to 29-09-2017

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• There has been heavy decline in domestic values for VAM. Decline in the values has been due to regain in the supply of chemical in domestic market.
• By end of the week prices were assessed around Rs.84/Kg for Kandla port and Rs.86/Kg for Mumbai port.

Booking Scenario

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

INDIA & INTERNATIONAL

• VAM prices were assessed at the level of Rs.84/Kg at Kandla and Rs.86/Kg for Mumbai port for bulk quantity. The heavy increase has been due to limited supply of the chemical in the international market coupled with striking demand in domestic market.
• On other side, CFR India values increased slightly by USD 10/MTS. Prices were assessed in the range of USD 1190-1210/MTS, with an increase of USD 10/MTS in compare to last week’s closing values.
• This week oil prices have followed mixed trend. Investors have really gained confidence in oil, after the OPEC cuts that were originally discussed earlier in the year are starting to take shape here, and oil production is being curbed.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $51.56/bbl, prices have decreased by $0.58/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.49/bbl in compared to last trading and was assessed around $57.41/bbl. Due to the combination of production cuts and growing demand, oil could head up to its 2017 high, just above $55, or even $60 per barrel by year-end. A global supply glut has plagued the market for several years, and OPEC member countries and non-member producers have vowed to implement cuts to curb such oversupply.

$1 = Rs. 65.28
Import Custom Ex. Rate USD/ INR: 65.70
Export Custom Ex. Rate USD/ INR: 63.70