Acetic Acid Weekly Report 13 March 2020
Weekly Price Trend: 09-03-2020 to 13-03-2020
- The above given graph focuses on the Acetic Acid price trend from 9th March to 13th March 2020. If we take a quick look at the above given weekly prices, it can be observed that prices has been volatile throughout this week.
- There has been nosedive decline in the prices in the starting of week itself. Later on there was an improvement in domestic prices.
- By end of the week prices were assessed at the level of Rs.27/Kg, with no change in values for this week.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.27/Kg for Kandla and for Mumbai ports of India.
- CIF India prices for Acetic Acid were assessed around USD 470-490/MT, reduced by USD 20/MTS for this week.
- Prices for Methanol on other side have reduced significantly for this week. Prices were assessed around USD 189/MT reduced by USD11/MT for this week.
- Global petrochemical markets crashed this week heavily as Coronavirus declared pandemic. This virus continues to spread in Asian countries. In a major decision, US government has cancelled all its air travel from Europe for 30 days. It has created a major uncertainty for producers, traders and end-users affecting heavily to the Asian market for time being.
- The pandemic has already affected gasoline demand, which affects gasoline blendstocks like mixed xylenes, toluene and MTBE, a source said, adding that if the economic situations does not improve "people will stop buying clothes and pet bottles, which will affect the entire polyester chain."
- Global consumer demand is slowing and this will exacerbate bearish market fundamentals in the methanol market, trade sources said.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $31.50/bbl. Prices have decreased by 1.48/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 2.57/bbl in compare to last closing price and was assessed around $33.22/bbl.
1$: Rs. 73.89
Import Custom Ex. Rate USD/ INR: 74.25
Export Custom Ex. Rate USD/ INR: 72.55
