Acetic Acid Weekly Report 12 June 2020
Weekly Price Trend: 08-06-2020 to 12-06-2020
- The above given graph focuses on the Acetic Acid price trend from 8th June to 12th June 2020. If we take a quick look at the above given weekly prices, it can be observed that prices has increased significantly for this week.
- By end of the week prices were assessed at the level of Rs.29/Kg, with an increase of Rs.4/Kg for this week.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.29/Kg for Kandla and for Mumbai ports of India.
- CIF India prices for Acetic Acid were assessed around USD 440-460/MT for this week with an increase of USD 30/MT for this week.
- There has been big slump in crude prices for this week. Oil prices crashed by 7 percent on Thursday, after the EIA reported on Wednesday.
- The plunge in prices set them on course for the worst daily crash since late April this year.
- Over the past few days, the oil market has been spooked by rising U.S. commercial inventories that suggest that the oil demand recovery is not as smooth as some had initially expected.
- The supply cuts have been driving the recent oil price rally, the market seemed to have banked on a steady global demand recovery similar to China’s after it exited lockdowns earlier than the other countries.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $36.34/bbl. Prices have decreased by 3.26/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 3.18/bbl in compare to last closing price and was assessed around $38.55/bbl.
1$: Rs. 75.84
Import Custom Ex. Rate USD/ INR: 76.45
Export Custom Ex. Rate USD/ INR: 74.75
