Acetic Acid Weekly Report 17 Feb 2018

Weekly Price Trend: 12-02-2018 to 16-02-2018

• The above given graph focuses on the Acetic Acid price trend from 12th Feb 2018 to 16th Feb 2018. If we take a quick look at the above given weekly prices, it can be observed that there has been slowdown in domestic values. The weakening of price trend has been continued past few weeks.
• By end of this week, prices were assessed at the level of Rs.51/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.51/Kg for Kandla and Mumbai ports of India.
• CFR India values remained unchanged for this week. Prices were assessed in the range of USD 720-740/MT.
• There has been slowdown in domestic values. Decline in crude values which in turn led to slight weakening of other petrochemical products.
• China market remained closed due to Lunar holidays. The activities will resume only after 21st Feb 2018.
• This week oil prices have followed volatile trend. Oil prices extended gains on Thursday as a weak dollar and supportive comments from Saudi Arabia outweighed record U.S. production and rising inventories.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $61.34/bbl; prices have increased by $0.74/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $64.33/bbl.
• On Friday Oil prices edged higher as the dollar stood near a three-year low in subdued Asian trade, with many markets closed for the Lunar New Year holiday.
• As per market players, Oil is getting support from a rebound in global stock markets and a weak dollar, but the upside is limited due to a projection for rising U.S. production.

1$ : Rs. 64.21
Import Custom Ex. Rate USD/ INR: 64.40
Export Custom Ex. Rate USD/ INR: 62.85