Acetic Acid Weekly Report 14 August 2020
Weekly Price Trend: 10-08-2020 to 14-08-2020
- The above given graph focuses on the Acetic Acid price trend from 10th Aug to 14th Aug 2020. If we take a quick look at the above given weekly prices, it can be observed that prices has remained stable throughout this week.
- By end of the week prices were assessed at the level of Rs.27/Kg, with no change in domestic values.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.27.5/Kg for Kandla and for Mumbai ports of India.
- CIF India prices for Acetic Acid were assessed around USD 410-430/MT for this week, reduced by USD 20/MT for this week.
- There has been mixed trend in petrochemical market. Prices for the specific category of chemicals have been declining with slowdown in demand. Petrochemical segment has been struggling owing oversupply. There has been steep decline in consumption as most of the economies in Asian subcontinent are passing through major recession phase.
- To add to their woes the downstream industry continues to operate at reduced rates due to poor demand and supply factors. Inventories are piling up in domestic industry which is an alarming signal for everyone.
- Most major countries in Southeast Asia posted sharp economic contractions in the second quarter, while the number of infections in countries such as Indonesia, the Philippines and India continue to spike.
- Producers are not lowering offers substantially to maintain some margins due to a relatively stable feedstock acetic acid market.
- China, which was the original epicentre of the outbreak, new cases are still being reported daily.
- India stands fourth in the tally of highest number of Covid infections
1$: Rs. 74.88
Import Custom Ex. Rate USD/ INR: 75.75
Export Custom Ex. Rate USD/ INR: 74.00
