Vinyl Acetate Monomer Weekly Report 27 May 2017

Weekly Price Trend: 22-05-2017 to 26-05-2017

• The graph above focuses on the Vinyl Acetate Monomer price trend for the current week.
• VAM prices followed a mixed trend throughout this week. In compare to other petrochemicals there has been slowdown in domestic values for VAM throughout this week.
• By end of the week prices were assessed around Rs.69/Kg for Kandla port and Rs.71/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.69/Kg at Kandla and Rs.71/Kg with slight decline in domestic prices.
• On other side, CFR India values reduced slightly for this week. Prices were assessed in the range of USD 950-970/MTS, with no change in compare to last week’s closing values.
• This week oil prices remained highly volatile. On Thursday, Crude oil prices plunged more than 5 percent below $49 per barrel, its biggest daily drop in last three weeks as OPEC members agreed to extend oil output cuts for nine months, crude oil traders pushed prices down by more than 4%.
• As per report, OPEC and some non-OPEC members agreed to extend oil supply cuts of 1.8 million barrels per day for a further nine months in a bid to stop waving prices. However, the move disappointed some who had hoped for longer or deeper cuts.
• As per market analyst, an initial six months of output reductions failed to shrink brimming crude stockpiles around the world. OPEC members need to curtail exports and take action to limit surging U.S. production to succeed this time.

• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.90/bbl, prices have decreased by $2.46/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $2.50/bbl in compared to last trading and was assessed around $51.46/bbl.

$1 = Rs. 64.44
Import Custom Ex. Rate USD/ INR: 65.30
Export Custom Ex. Rate USD/ INR: 63.60