Acetic Acid Weekly Report 16 Sep 2017

Weekly Price Trend: 11-09-2017 to 15-09-2017

• The above given graph focuses on the Acetic Acid price trend from 11th Sept 2017 to 15thSept 2017. If we take a quick look at the above given we1ekly prices, it can be observed that this prices decreased slightly by end of the week.
• 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 assessed on higher note in compare to last week’s closing values. There has been limited supply of the chemicals in the market. Prices were assessed at the level of Rs.34.5/Kg for Kandla and Mumbai port for bulk quantity.

• CIF India prices of Acetic acid were assessed around USD 435-455/MTS, reduced by USD 35/MTS in compare to last week’s closing values. The overall market trend remained volatile throughout this week with majority of chemicals witnessing hike in international values.
• This week there has been significant hike in crude values. Prices has reached too its highest level since April in this year. Crude values rose above $ 50/barrel for the first time. Both the contracts have increased by more than 19% since /June.
• Many fundamental factors are helping to support oil prices at this moment.
• Short supply, stronger demand along with ongoing restrictions from OPEC and Russia are few major reasons for the surge in oil prices.
• This week has been highly positive for crude values in international market. On Thursday closing, crude values gained in the international market.WTI on NYME closed at $49.89/bbl, prices improved by 0.59 in compared to last closing prices. While, Brent on Inter Continental Exchange was assessed at the rate of $55.47/bbl increased by 0.31/bbl on Wednesday.

1$ : Rs. 64.07
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.25