Acetic Acid Weekly Report 09 Sep 2017

Weekly Price Trend: 04-09-2017 to 08-09-2017

• The above given graph focuses on the Acetic Acid price trend from 4th Sept 2017 to 8thSept 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.33.5/Kg for Kandla and Mumbai port for bulk quantity.

• CIF India prices of Acetic acid were assessed around USD 470-490/MTS, with an increase of 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.

• This week oil prices have followed mixed trend. Oil futures eased on Thursday on a slightly bigger-than expected U.S. crude inventory build as the restart of U.S. refiners after Hurricane Harvey was being countered by the threat of Hurricane Irma. On Thursday, closing crude values have remained mixed.WTI on NYME closed at $49.09/bbl, prices have decreased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.29/bbl in compared to last trading and was assessed around $54.49/bbl. As per market players supplies of crude remained sufficient to meet demand.
• 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.
• There has been rise in international prices in international market. Due to heavy rainfall and disruption of transportation there has been limited supply of the chemical across all major Indian markets.

1$ : Rs. 63.78
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.25