Butyl Acetate Weekly Report 02 Dec 2017
Weekly Price Trend: 27-11-2017 to 01-12-2017
- The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
- Compares to previous week Butyl Acetate prices increased for this week.
- Butyl Acetate prices were assessed at the level of Rs.75/Kg for Kandla and for Mumbai ports of India. Prices reduced from the level of Rs.86/Kg to Rs.75/Kg. This has been particularly due to limited supply of the chemical coupled with rise in demand in domestic market.
Booking Scenario
The above chart shows the international prices of Butyl Acetate and its comparison from the previous prices. These booking prices for CIF India are for 0% duty.
INDIA & INTERNATIONAL
- Butyl Acetate prices remained firm for this week. Prices were assessed at the level of Rs.75/Kg for bulk quantity.
- CIF India prices were assessed in the range of USD 1010-1030/MT, with no change in compare to last week’s closing values.
- This week crude oil prices have followed mixed trend. On Thursday oil prices have escalated OPEC members, Russia and nine other producers agreed to extend a deal to limit their production through 2018.
- On Thursday, closing crude values have increased. WTI on NYME closed at $57.40/bbl; prices have decreased by $0.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.46/bbl in compared to last trading and was assessed around $63.57/bbl
- As per report, the producers will indeed review the deal at the next OPEC meeting in June. Some markets were concerned that a nine-month extension could cause markets to quickly tighten, leading to undersupply that results in a price spike. Oil watchers also warn that a rise in prices will give U.S. shale drillers an incentive to flood the market. Russia has expressed concern that its oil companies will continue to lose market share to American producers, who are exporting record levels of crude.
$1 = Rs. 64.46
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50
