Acetic Acid Weekly Report 17 March 2018

Weekly Price Trend: 12-03-2018 to 16-03-2018

• The above given graph focuses on the Acetic Acid price trend from 12th March 2018 to 16th March 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained vulnerable throughout this week.
• By end of this week, prices were assessed at the level of Rs.53/Kg for Kandla and Rs.53.5/Kg for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.53/Kg for Kandla and Rs.53.5/Kg for Mumbai port of India.
• CFR India values increased significantly for this week. Prices were assessed in the range of USD 735-755/MT. This hike is mainly due to shut down of major Acetic Acid producing units in Iran and other Asian countries.
• This week oil prices have followed volatile inclination. Oil prices edged higher in choppy trade on Thursday, supported by a pickup in equity markets but pressured by expectations that crude supply will exceed demand later this year.
• On Thursday, closing crude values have increased. WTI on NYME closed at $61.19/bbl; prices have increased by $0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compared to last trading and was assessed around $65.12/bbl.
• Rising global oil demand, along with supply constraints from the OPEC, has helped keep oil above $60 a barrel.
• As per report, global oil demand is expected to pick up this year but supply is growing at a faster pace, leading to a rise in inventories in the first quarter of 2018. U.S. oil output hit a record 10.38 million barrels per day. OPEC expects to lose market share as output from non-OPEC nations soars.

1$ : Rs. 64.93
Import Custom Ex. Rate USD/ INR: 65.80
Export Custom Ex. Rate USD/ INR: 64.15