Acetic Acid Weekly Report 18 Jan 2019

Weekly Price Trend: 14-01-2019 to 18-01-2019

• The above given graph focuses on the Acetic Acid price trend from 14^th Jan to 18^th Jan 2019. If we take a quick look at the above given weekly prices, it can be observed that prices remained stable to firm for this week.
• With continuous fluctuation in crude values prices there has been considerable decline in domestic values.
• By end of this week, prices were assessed at the level of Rs.36/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.36/Kg for Kandla and for Mumbai port of India. This week domestic prices remained unchanged and stable.
• CIF India prices for Acetic Acid were assessed around USD 530-560/MT reduced by USD 20/MTS in compare to last week’s closing values.
• Impact of decline in the Methanol values has significantly affected the Acetic Acid prices in international market. Methanol values have improved by USD 6 and were assessed at the level of USD 240/MTSfor this week.
• Oil prices remained vulnerable throughout this week. With concerns over surging in crude production lacklustre in demand crude prices declined on Thursday. The scenario was completely different on Friday.
• On other side OPEC has also cut down its production significantly for this month. Even as OPEC and allied exporters cut production, however, U.S. output has surged close to 12 million bpd in the latest week, and some traders and investors are concerned that growth in global supply this year will outpace demand.
• OPEC cut oil output sharply in December before a new accord to limit supply took effect on Jan. 1, it said on Thursday, suggesting that producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand. 

PLANT NEWS

Acetic Acid unit shut down by Henan Yima Gasification

• China based Henan Yima Gasification has shut down its Acetic Acid unit for maintenance turnaround. The unit has been shut down for 3-4 days on back of electricity failure. Once the issue is sorted out the unit will restart tis production.
• Unit is based at Yima in the Henan province of China and has the production capacity of Acetic Acid of 2,00,000 tonnes/year. 

Hanwha Total to shut down its cracker for its maintenance

• Hanwha Total Petrochemical is planning to shut down its cracker maintenance turnaround. The company will shut down its unit in the month of March and date has not been specified yet. The shutdown duration will also include the expansion of existing capcity and may last for 40-45 days.
• Unit is based at Daesan and has the production capacity of ethylene around 1.09 million mt/year and propylene capacity of 640,000 mt/year. 

1$: Rs. 71.12

Import Custom Ex. Rate USD/ INR: 72.10

Export Custom Ex. Rate USD/ INR: 70.40