Acetic Acid Weekly Report 01 Sep 2018

Weekly Price Trend: 27-08-2018 to 31-08-2018

• The above given graph focuses on the Acetic Acid price trend from 27th Aug 2018 to 31st Aug 2018. If we take a quick look at the above given weekly prices, it can be observed that prices increased in this week.
• Domestic prices increased significantly in compare to last week’s closing values.
• By end of this week, prices were assessed at the level of Rs.63Kg for Kandla and Rs.64/Kg for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.60.5/Kg for Kandla and for Rs.61/Kg Mumbai port of India. Prices have now reduced and are in process of settling down across the nation.
• CFR India price were assessed around USD 620-640/MT, reduced by USD 5/MTS in compare to last week’s closing values.
• Prices correction was seen in Indian market on back of gain in supply.
• This week oil prices have followed volatile trend. On Thursday oil prices increased due to extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. crude inventories.
• On Thursday, closing crude values have increased. WTI on NYME closed at $70.25/bbl. Prices have increased by $0.74/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.63/bbl in compare to last closing price and was assessed around $77.77/bbl.
• As per report, Brent has risen by almost 10 percent over the past two weeks on widespread perceptions that the global oil market is tightening and could run short in the next few months as U.S. sanctions restrict crude exports from Iran.
• Market players have said that market will remain tight towards the end of the year because of falling supply in countries such as Iran and Venezuela combined with strong demand, especially in Asia.

1$ : Rs. 70.99
Import Custom Ex. Rate USD/ INR: 71.10
Export Custom Ex. Rate USD/ INR: 69.40