Acetic Acid Weekly Report 14 Dec 2018

Weekly Price Trend: 10-12-2018 to 14-12-2018

• The above given graph focuses on the Acetic Acid price trend from 10^thDec 2018 to 14^th Dec 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained vulnerable throughout this week.
• With continuous fluctuation in crude values prices and appreciation of currency against dollar has affected domestic market significantly. In compare to last week there has been decline in domestic prices.
• By end of this week, prices were assessed at the level of Rs.45/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL 

• Domestic prices of Acetic acid assessed around Rs.45/Kg for Kandla and for Mumbai port of India. There has been significant decline in the domestic values for this week.
• CIF India prices for Acetic Acid were assessed around USD 590-610/MT reduced by USD 20/MT in compare to last week’s closing values.
• Impact of decline in the Methanol values has also affected Acetic Acid prices in international market. Methanol values have reduced by more than USD 238/MTS in last one week.
• Price remained vulnerable for this week in crude market. Earlier prices slowed down on Wednesday with impact of publish of data by US of crude supplied.
• Crude prices stood up on back of easing trade tension as well as decline in inventory levels. Ease in trade discussion between China and US has been a relief across the global market.
• Further decline in US crude stock has also pulled up the prices and boosted the sentiment. The crude prices have direct impact on petrochemical prices. Earlier OPEC stated that in 2019 demand for crude would fall to 31.44 million barrels per day, 100,000 bpd less than predicted last month and 1.53 million less than it currently produces. 

1$: Rs. 71.97

Import Custom Ex. Rate USD/ INR: 71.75

Export Custom Ex. Rate USD/ INR: 70.05