Acetic Acid Weekly Report 10 Aug 2018

Weekly Price Trend: 06-08-2018 to 10-08-2018

• The above given graph focuses on the Acetic Acid price trend from 6th Aug 2018 to 10th Aug 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained volatile with significant rise by end of the 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.56/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.56/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 645-665/MT, increased by USD 45/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 volatile trend. On Thursday Crude prices held near lower levels set in the previous session, as the escalating China-U.S. trade dispute cast doubt on the outlook for oil demand.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $66.81/bbl. Prices have decreased by $0.13/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.21/bbl in compare to last closing price and was assessed around $72.07/bbl. Both benchmarks tumbled more than 3 percent after U.S. data showed a smaller-than-expected weekly draw in crude inventories and a surprise build of 2.9 million barrels in gasoline supplies.
• As per report, despite the possibility of a slowdown in economic growth due to escalating trade tensions, oil markets are for now relatively tight, because of sanctions on Iranian oil exports the United States plans to implement in November. Beyond Iran sanctions, the escalating trade dispute between Washington and Beijing was weighing on global markets.

1$ : Rs. 68.87
Import Custom Ex. Rate USD/ INR: 69.25
Export Custom Ex. Rate USD/ INR: 67.55