Vinyl Acetate Monomer Weekly Report 07 Oct 2017

Weekly Price Trend: 02-10-2017 to 06-10-2017

• 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.79/Kg for Kandla port and Rs.77/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.79/Kg at Kandla and Rs.77/Kg for Mumbai port for bulk quantity.
• 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.
• Market sentiments remained stable as one of the major market of Asia, China remained closed due to golden week holidays. The Market will open now on Monday. So the demand remained lull from China
• Crude price remained volatile throughout this week. On Wednesday after slipping a bit oil prices rose again on Thursday based on expectations that Saudi Arabia and Russia would extend production cuts, although record U.S. exports and the return of supply from a Libyan oilfield dragged on the market.
• On Thursday, crude values closed on higher note. WTI on NYME closed at $50.79/bbl, prices have increased by $0.81/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.20/bbl in compared to last trading and was assessed around $57.00/bbl.
• As per market players, OPEC and other producers, including Russia, to cut oil output to boost prices could be extended to the end of 2018, instead of expiring in March 2018.

$1 = Rs. 65.38
Import Custom Ex. Rate USD/ INR: 65.95
Export Custom Ex. Rate USD/ INR: 64.30