Acetic Acid Weekly Report 11 March 2017
Weekly Price Trend: 06-03-2017 to 10-03-2017
- The above given graph focuses on the Acetic Acid price trend from 6th March 2017 to 10th March 2017. If we take a quick look at the above given weekly prices, it can be observed that this week price of Acetic Acid remained stable for this week.
- By end of this week, prices were assessed at the level of Rs.31/Kg for Kandla and Rs.30.5/Kg for Mumbai port for bulk quantity.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid remained stable for this week. Prices were assessed at the level of Rs.31/Kg for Kandla and Rs.30.5/Kg for Mumbai port for bulk quantity.
- CIF India prices of Acetic acid were assessed around USD 420-440/MTS, with an significant rise of USD 35/MTS in compare to last week’s closing values.
- Feedstock Methanol CFR India prices were assessed in the range of USD 230-240/MT.
- There has been toppling of crude values in this week. In last five days US oil prices plunge by 7.5% while Brent oil sink by 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
- According to reports, declining oil prices have helped U.S. and global energy companies to get back into the investing mode but yet experts believe that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.
- Market players foresee for OECD oil stocks to decline significantly this year will help the large OPEC cuts and robust global demand growth, to consider the recent drop in crude oil prices to be a good opportunity to enter into bullish option structures.
- On Thursday, closing crude values have plunged.WTI on NYME closed at $49.28/bbl, prices have decreased by $1.00/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.92/bbl in compared to last trading and was assessed around $52.19/bbl.
1$ : Rs. 66.60
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00
