Vinyl Acetate Monomer Weekly Report 06 Oct 2018

Weekly Price Trend: 01-10-2018 to 05-10-2018

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• This week there has been firmness in domestic values. Impact of fluctuation in crude values has also manipulated the domestic prices for VAM.
• By end of the week prices were assessed around Rs.87/Kg for Mumbai port Rs. 86/Kg for Kandla port.

Booking Scenario

The above chart shows the international prices for Vinyl Acetate Monomer. International prices of VAM has increased significantly for this week.

INDIA & INTERNATIONAL

• VAM prices were assessed at the level of Rs.86/Kg at Kandla and Rs.87/Kg for Mumbai port bulk quantity.
• With rise in the prices for Acetic Acid in international market, prices for VAM has also increased heavily.
• CIF India prices were reduced and were assessed in the range of USD 1120-1140, reduced by USD 20/MT for this week.
• Declining Indian currency is creating new records against dollar and is also one of the main reasons for rise in petrochemical prices.
• There has been heavy fluctuation in crude prices in this week. As the month of November is approaching fast the heat of sanction felt in the crude values across the world.
• On Thursday crude prices plunged due to rise in the inventory levels in US. But this hike was again pulled back on Thursday. Saudi Arabia and Russia has stated they will increase the crude supply but could not fill the void created by disruption of supply from Iran.
• With short supply from the price for crude is likely to reach a mark of $90 to $100 per barrel. On Wednesday, Saudi Energy Minister Khalid al-Falih said the kingdom was pumping near record levels and would raise output in November. Saudi Arabia is one of the few countries with the ability to significantly raise output. Many experts believe that the spar capacity of specified by Saudi is merely a statement but does exist in reality.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $74.33/bbl. Prices have decreased by $2.08/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.71/bbl in compare to last closing price and was assessed around $84.58/bbl.

$1 = Rs. 73.78
Import Custom Ex. Rate USD/ INR: 74.60
Export Custom Ex. Rate USD/ INR: 72.90