Acetic Acid Weekly Report 12 Aug 2017

Weekly Price Trend: 07-08-2017 to 11-08-2017

• The above given graph focuses on the Acetic Acid price trend from 7th August 2017 to 11th Aug 2017. If we take a quick look at the above given weekly prices, it can be observed that this prices declined for this week.
• By end of this week, prices were assessed at the level of Rs.31/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid reduced for this week. There has been bulk supply of the chemicals in the market. Prices were assessed at the level of Rs.33/Kg for Kandla and Mumbai port for bulk quantity.

• CIF India prices of Acetic acid were assessed around USD 420-440/MTS, with a rise of USD 30/MTS in compare to last week’s closing values. The overall market trend remained volatile throughout this week with majority of chemicals witnessing slowdown in international values.
• This week crude oil prices followed volatile trend and on Thursday market closed on weaker note. Oil prices fell more than 1.5 percent on Thursday, to hit two-week lows, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.59/bbl, prices have decreased by $0.97/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.80/bbl in compared to last trading and was assessed around $51.90/bbl.
• Investors were also keeping a close eye on the broad market impact of tensions between the United States and North Korea. Recently Crude oil prices failed to hold recent gains, with a nervous market starting to doubt recent falls in inventories.
• As per report, OPEC is curbing output by about 1.2 million bpd, while Russia and other non-OPEC producers cut half as much, until March 2018.

1$ : Rs. 64.13
Import Custom Ex. Rate USD/ INR: 64.55
Export Custom Ex. Rate USD/ INR: 62.85