Acetic Acid Weekly Report 13 Jan 2018

Weekly Price Trend: 08-11-2018 to 12-01-2018

• The above given graph focuses on the Acetic Acid price trend from 5th Jan 2018 to 12th Jan 2018. If we take a quick look at the above given weekly prices, it can be observed that there has been hike in domestic values.
• By end of this week, prices were assessed at the level of Rs.48/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.48/Kg for Kandla and Mumbai ports of India.
• CFR India values remained unchanged and were assessed in the range of USD 660-780/MT. There has been significant upsurge in crude values in international market. Current values are all time high in last one year. The political tension in Iran has been augmenting the hike in crude values.
• Acetic Acid prices have also increased heavily in China. It has increased by more than 25% in last two months. Heavy snowfall along with disrupted transportation facilities has put an halt on the supply of petrochemical industry.
• This week crude oil prices have followed up velocity. On Thursday Brent crude oil hit a more than three-year high breaking through the psychologically important $70 a barrel level for the first time since December 2014.
• On Thursday, closing crude values have increased. WTI on NYME closed at $63.80/bbl; prices have increased by $0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $69.26/bbl.
• Oil prices have been supported by stronger-than-expected demand fueled by worldwide economic growth, ongoing output limits by OPEC and Russia and a series of global events that have stoked geopolitical tension.
• Market analysts say it will be hard for oil prices to tack on gains from these levels. Robust global demand, OPEC output cuts and a series of geopolitical tensions have accelerated a rally that began in June.

1$ : Rs. 63.61
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.80