Vinyl Acetate Monomer Weekly Report 31 March 2018

Weekly Price Trend: 26-03-2018 to 30-03-2018

• 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 persisted the prices to go on high range.
• By end of the week prices were assessed around Rs.80/Kg for Kandla port and Mumbai port.

Booking Scenario

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

INDIA & INTERNATIONAL

• VAM prices were assessed at the level of Rs.80/Kg at Kandla and Mumbai port for bulk quantity. There has been hike in domestic market.
• On other side prices remained stable in international market. Prices were assessed in the range of USD 1050-1070/MTS, with no change in compare to last week’s closing values.
• Acetic acid prices also remained firm in international market. This week oil prices have followed volatile inclination. Oil prices edged higher in choppy trade on Thursday, supported by a pickup in equity markets but pressured by expectations that crude supply will exceed demand later this year.
• This week crude oil prices have followed weak trend but on Thursday oil prices have escalated by 1 percent as the equities markets rallied and as market participants weighed a rise in U.S. crude inventories and production against continued OPEC supply curbs.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $64.94/bbl; prices have increased by $0.56/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 $70.27/bbl.
• Market players said that strong compliance on supply cuts from members of The OPEC and allies like Russia have supported prices. OPEC sources said the group and its allies are likely to keep their deal on cutting output for the rest of 2018 when they meet in June.
• As per market report, China was taking its first steps to pay for imported crude oil in yuan instead of the U.S. dollar. This week marked the launch of the Shanghai crude oil futures contract.

$1 = Rs. 65.17
Import Custom Ex. Rate USD/ INR: 65.80
Export Custom Ex. Rate USD/ INR: 64.15