Acetic Acid Weekly Report 04 August 2018

Weekly Price Trend: 30-07-2018 to 03-08-2018

• The above given graph focuses on the Acetic Acid price trend from 30th July 2018 to 3rd August 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained firm and increased significantly for 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.54/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.54/Kg for Kandla and for Mumbai port of India. Prices increased in compare to last week’s closing values.
• CFR India price were assessed around USD 600-620/MT, increased by USD 15/MT in compare to last week’s closing values.
• Prices in Indian market are likely to remain firm as demand has improved in last few weeks.
• This week oil prices have followed mixed trend. On Thursday oil prices traded slightly higher, reversing course after a report that crude stockpiles at the U.S. storage hub at Cushing, Oklahoma fell in the latest week.U.S. stockpiles have been in the spotlight because they rose unexpectedly last week, stoking fears that the market is becoming oversupplied.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.96/bbl. Prices have increased by $1.30/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.06/bbl in compare to last closing price and was assessed around $73.45/bbl.
• As per market report, oil prices are feeling the effects of tensions over global trade, which could cause economic growth to slow.
• Trump has turned up pressure on China for trade concessions by proposing a higher 25 percent tariff on $200 billion of Chinese imports and China has said it will retaliate.
• "It is almost certain that China will impose additional duties on oil and refined products imported from the U.S. if the Trump administration implements additional tariffs on the next tranche of Chinese goods. This could severely dent the competitiveness of U.S. oil and derivatives in the Chinese market.

1$ : Rs. 68.60
Import Custom Ex. Rate USD/ INR: 69.25
Export Custom Ex. Rate USD/ INR: 67.55