Acetic Acid Weekly Report 04 Nov 2017
Weekly Price Trend: 30-10-2017 to 03-11-2017
- The above given graph focuses on the Acetic Acid price trend from 30th Oct 2017 to 3rd Nov 2017. If we take a quick look at the above given weekly prices, it can be observed that this prices has significantly increased post Diwali break
- By end of this week, prices were assessed at the level of Rs.41.5/Kg for Kandla and for Mumbai port for bulk quantity.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid assessed very high post Diwali vacation.
- Market has been at its all time high due to limited supply of the chemical. There has been noticeable variation in domestic values. Prices were assessed at the level of Rs.41.5/Kg for Kandla and for Mumbai port for bulk quantity.
- CIF India prices of Acetic acid were assessed around USD 540-560/MTS, increased by USD 30/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.
- The market is likely to remain firm with limited supply of the chemical along with hike in fresh demand.
- There has been continuous oscillation in crude values for this week. On Thursday oil prices rebounded from earlier losses, but ended lower on the day, after the Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production.
- On Thursday, closing crude values have increased. WTI on NYME closed at $54.54/bbl; prices have increased by $0.24/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.13/bbl in compared to last trading and was assessed around $60.62/bbl.
1$: Rs. 64.55
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 64.70
