Acetic Acid Weekly Report 02 Sep 2017

Weekly Price Trend: 28-08-2017 to 01-09-2017

• The above given graph focuses on the Acetic Acid price trend from 28th August 2017 to 1st Sept 2017. If we take a quick look at the above given we1ekly prices, it can be observed that this prices increased slightly by end of the week.
• By end of this week, prices were assessed at the level of Rs.32/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed on higher note. There has been limited supply of the chemicals in the market. Prices were assessed at the level of Rs.32/Kg for Kandla and Mumbai port for bulk quantity.

• CIF India prices of Acetic acid were assessed around USD 440-450/MTS, with an increase of USD 20/MTS in compare to last week’s closing values. The overall market trend remained volatile throughout this week with majority of chemicals witnessing hike in international values.

• This week has been full of pains and agony due to natural calamities. On one side Texas has been facing the worst floods in the history of US. Houston and Louisiana has been the largely evacuated as floods has reached everywhere.
• The major petrochemical plants of the country are located on these sites. To take a precautionary action major companies like Exxon Mobil, LyondellBasel, Celanese and many more has shut down their units abruptly.  Formosa has shut down its ports and units along with Dow chemical. Petrobras has shut down its Pasadena refinery. Shell has shut down its refinery and unit. Arkema reported explosion in its unit on Thursday.
• LyondellBasell declared force majeure on acetic acid and vinyl acetate monomer (VAM) after issues at La Porte, Texas.
• In India too, the heavy rainfall continue to maintain its fury. This time it was Gujarat and Maharashtra facing heavy rainfall and flood like situation. The major commercial city of India Mumbai has been hardhitten by heavy rainfall India. Mumbai was all over in water for 2 days paralyzing the city and its residents. All the transportation and city centers were closed due to heavy rainfall across the city.
• The international prices are likely to soar up as due to abrupt shut downs there will be limited supply of the chemicals across the international market.
• The major companies have not decided yet to when to resume their production. At first they are likely to check out to what extent there has been damage in their units and refineries.

1$ : Rs. 64.02
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45