Butyl Acetate Weekly Report 31 March 2017

Weekly Price Trend: 27-03-2017 to 31-03-2017

• The above graph focuses on the weekly price trend of Butyl Acetate for the current week.
• Compares to previous week Butyl Acetate prices reduced significantly for this week.
• Butyl Acetate prices were assessed at the level of Rs.62/Kg for Kandla and Rs.63/Kg for Mumbai ports of India.

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 reduced for this week. Prices were assessed at the level of Rs.62/Kg for Mumbai port and Rs.63/Kg for Kandla port of India.

• International prices of Butyl Acetate reduced for this week. CIF India prices were assessed in the range of USD 820-840/MT, with an decrease of USD 20/MTS in compare to last week’s closing values.

• This week with little volatility prices remained on the higher note along with high expectations of extended supply cut. Brent and WTI crude both were assessed above $50 per barrel. Crude prices remained over 4 percent higher than they were on Tuesday. On Thursday prices have escalated as Kuwait gave its backing for an extension of OPEC production cuts in an attempt to reduce global oversupply.
• Market players said that oil prices will remain on higher note as OPEC and non-OPEC oil producing giants like Russia are likely to continue their production cut deal seeking to drive prices higher.
• There remains doubt that the output cuts will go deep enough for the world's bloated markets to leading to tightening of supply soon and significantly lift prices, especially as other producers that are not part of the agreement could step in to fill the supply gap. Moreover some players have said that there is a tremendous amount of stock in the markets and to expect a major increase in the price is not very realistic
• On Thursday, closing crude values have increased.WTI on NYME closed at $50.35/bbl, prices have increased by $0.84/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.54/bbl in compared to last trading and was assessed around $52.96/bbl.

$1 = Rs. 64.85
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50