Acetic Acid Weekly Report 15 July 2017

Weekly Price Trend: 10-07-2017 to 14-07-2017

• The above given graph focuses on the Acetic Acid price trend from 10th July 2017 to 14th July 2017. If we take a quick look at the above given weekly prices, it can be observed that this week there has been lowering in domestic values.
• By end of this week, prices were assessed at the level of Rs.38/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid reduced significantly for this week. There has been excess supply of the chemicals in the market. Prices were assessed at the level of Rs.38/Kg for Kandla and Mumbai port for bulk quantity.

• CIF India prices of Acetic acid were assessed around USD 410-420/MTS, with a slight rise of USD 10/MTS in compare to last week’s closing values. The overall market trend remained volatile throughout this week with majority of chemicals witnessing slowdown in international values.
• This week Crude oil prices followed up an positive trend as Saudi Arabia is going to cut exports of crude oil to the United States, but this is going to be a short-term effect on the market as the United States becomes much more energy independent.
• On Thursday, closing crude values have increased.WTI on NYME closed at $46.08/bbl, prices have increased by $0.59/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.68/bbl in compared to last trading and was assessed around $48.42/bbl.
• As per market source, the oil market could stay oversupplied for longer than expected due to rising production and limited output cuts by some OPEC exporters. Rising consumption in Germany and the United States was helping boost oil demand. OPEC said its production rose by 393,000 barrels per day in June to 32.611 million bpd.

1$ : Rs. 64.45
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95