Acetic Acid Weekly Report 10 March 2018

Weekly Price Trend: 05-03-2018 to 09-03-2018

• The above given graph focuses on the Acetic Acid price trend from 5th March 2018 to 9th March 2018. If we take a quick look at the above given weekly prices, it can be observed that there has been slowdown in domestic values. The weakening of price trend has been continued past few weeks.
• By end of this week, prices were assessed at the level of Rs.52/Kg for Kandla and Rs.53/Kg for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.52/Kg for Kandla and Rs 53/Kg for Mumbai port of India.
• CFR India values remained stable for this week. Prices were assessed in the range of USD 710-730/MT.
• There has been slowdown in domestic values. Heavy imports in the month of January coupled with ample supply of Acetic Acid in domestuic market have plunged down the domestic values in the market.
• This week oil prices have remained volatile. On Thursday oil prices fell headed for a second straight weekly drop on a stronger dollar, signs of an inventory build at the U.S. storage hub in Cushing, Oklahoma, surging U.S. crude production and investor jitters about a potential trade war.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $60.12/bbl; prices have decreased by $1.03/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.73/bbl in compared to last trading and was assessed around $63.61/bbl.
• On Friday, crude oil futures rose as Asian stock markets gained on North Korean leader Kim Jong Un will meet with U.S. President Donald Trump.
• As per report, U.S. crude output is expected to surge beyond 11 million bpd by late 2018, limiting the effectiveness of output cuts by the Organization of the Petroleum Exporting Countries, Russia and other producers.

1$ : Rs. 65.16
Import Custom Ex. Rate USD/ INR: 66.10
Export Custom Ex. Rate USD/ INR: 64.40