Acetic Acid Weekly Report 11 Nov 2017

Weekly Price Trend: 06-11-2017 to 10-11-2017

• The above given graph focuses on the Acetic Acid price trend from 6th Nov 2017 to 10th Nov 2017. If we take a quick look at the above given weekly prices, it can be observed that prices again improved for this week.
• By end of this week, prices were assessed at the level of Rs.42/Kg for Kandla and for Mumbai port for bulk quantity.

Total import at various ports in the month of September 2017

The above chart depicts the import of Acetic Acid at various ports of India in the month of September 2017.There has been slowdown in imports in the month of September 2017.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.42/Kg for Kandla and Mumbai ports of India.
• Market has been at its all time high due to limited supply of the chemical. There has been noticeable variation in domestic values. With upcoming winter season there has been slowdown in supply of natural gas which in turn has led to slowdown in the production of Methanol and Acetic Acid.
• During this winter season most of the major producers of Iran shut their unit either for maintenance or due to shortage in the supply of natural gas.
• The supply of natural gas is diverted for domestic consumption in Iran specifically.
• Prices were assessed at the level of Rs.42/Kg for Kandla and for Mumbai port for bulk quantity.
• CIF India prices of Acetic acid were assessed around USD 560-580/MTS, increased by USD 20/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.
• Last week on Thursday, closing crude values have increased. WTI on NYME closed at $57.17/bbl; prices have increased by $0.36/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.44/bbl in compared to last trading and was assessed around $63.93/bbl.
• Market trends remained stable to positive for this week. Market will see an upsurge in next few weeks as political tension in Saudi Arabia has been disturbing the petrochemical market all over the world.

1$ : Rs. 66.20
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 64.70