Acetic Acid Weekly Report 15 March 2019

Weekly Price Trend: 11-03-2019 to 15-03-2019

• The above given graph focuses on the Acetic Acid price trend from11^th March to 15^th March 2019. If we take a quick look at the above given weekly prices, it can be observed that prices remained soft to stable in domestic market.
• Initially prices remained firm but by end of the week there was decline in domestic values. By end of this week, prices were assessed at the level of Rs.34.5/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid were assessed around Rs.34.5/Kg for Kandla and for Mumbai port of India. This week domestic values remained stable in domestic market.
• CIF India prices for Acetic Acid were assessed around USD 360-380 remained unchanged for this week.
• Prices for Methanol have remained vulnerable since last few weeks has also affected the Acetic Acid values in domestic as well as international market. CFR India Methanol prices were assessed at the level of USD 292/MT.
• The acetic Acid supply is likely to get tightened in next few weeks with major units are likely to undergo maintenance. China is the major supplier for Acetic Acid. The prices were under great pressure during the Lunar holidays.
• By the time India has fixed for its March shipments from Middle East as it has been more accessible.
• There are many units in China which are likely to undergo maintenance in the next few months. To mention few Shanghai Wujing with capacity of 7,00,000 tonnes/year will shut down its unit in the month of April. International Acetate Co (IAC) will shut down its Acetic Acid unit in the month of May for a month with a capacity of 4,00,000 tonnes/year.
• On Thursday, closing crude values have mixed. WTI on NYME closed at $58.61/bbl. Prices have increased by $0.35/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.32/bbl in compare to last closing price and was assessed around $67.23/bbl.

PLANT NEWS

Acetic Acid unit will shut down by Kingboard

• Kingboard (Hebei Yingdu Gasification) will shut down its Acetic Acid unit for maintenance turnaround. The unit will remain off-stream for around 2-3 weeks. The unit will undergo maintenance in the month of April.
• Unit is based at Xingtai in Hebei in China and has the production capacity of 5,00,000 tonnes/year.

Acetic Acid unit to be shut down by Chang Chung Petrochemical 

• Chang Chung Petrochemical has announced its maintenance schedule for its Acetic acid unit. The unit will undergo maintenance in the month of April 4-5 weeks. The unit will be shut down for its annual maintenance.
• Unit is based at Taiwan and has the production capacity of 6,00,000 tonnes/year. 

1$: Rs. 69.09

Import Custom Ex. Rate USD/ INR: 71.00

Export Custom Ex. Rate USD/ INR: 69.30