Acetic Acid Weekly Report 10 Feb 2018

Weekly Price Trend: 05-02-2018 to 09-02-2018

• The above given graph focuses on the Acetic Acid price trend from 5th Feb 2018 to 9th Feb 2018. If we take a quick look at the above given weekly prices, it can be observed that there has been slight slowdown in domestic values.
• By end of this week, prices were assessed at the level of Rs.53.5/Kg for Kandla and for Mumbai port for bulk quantity.

Total imports of Acetic Acid in the year 2017

The above graph depicts the total import of Acetic Acid monthly basis in the year 2017.  On an average around 65000 mt of Acetic Acid is imported every month in the country.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.53.5/Kg for Kandla and Mumbai ports of India.
• CFR India values also increased for this week. Prices were assessed in the range of USD 720-740/MT.
• There has been increase in domestic values along with hike in international prices. But this hike was subdued as week progressed. In the latter half of the week there has been heavy decline in crude values which in turn led to slight weakening of other petrochemical products.
• This week crude oil prices have followed weak trend. Oil prices fell sharply after the U.S. government reported crude stockpiles rose by 1.9 million barrels. The increasing U.S. oil production and crude stockpiles, and stock market sell-off, piled pressure on oil prices this week. A stronger dollar has also been a prevailing factor the decline. But the supply dynamics are working against a sustained price rally.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $61.15/bbl; prices have decreased by $0.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.70/bbl in compared to last trading and was assessed around $64.81/bbl.
• As per market analyst oil market moves could be exaggerated because the number of bets that crude prices will keep climbing has risen sharply, while wagers that prices will fall have plunged. That extreme market positioning can encourage bouts of profit-taking.

1$ : Rs. 64.40
Import Custom Ex. Rate USD/ INR: 64.40
Export Custom Ex. Rate USD/ INR: 62.85