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Acetic Acid Weekly Report 20 May 2017

Weekly Price Trend: 15-05-2017 to 19-05-2017

 

  • The above given graph focuses on the Acetic Acid price trend from 15th May 2017 to 19th May 2017. If we take a quick look at the above given weekly prices, it can be observed that this week price of Acetic Acid reduced significantly for this week.
  • By end of this week, prices were assessed at the level of Rs.29.75/Kg for Kandla and Rs.29.5/Kg for Mumbai port for bulk quantity.

Total import at various ports in the month of April 2017

The above chart depicts the import of Acetic Acid at various ports of India in the month of April 2017.

Booking Scenario

INDIA& INTERNATIONAL

  • Domestic prices of Acetic acid reduced heavily for this week. Prices were assessed at the level of Rs.29.75/Kg for Kandla and Rs.29.5/Kg for Mumbai port for bulk quantity.
  • There has been continuous decline in Methanol values in domestic market which in turn has affected the Acetic Acid prices.
  • CIF India prices of Acetic acid were assessed around USD 385-405/MTS, with no change in compare to last week’s closing values.
  • Feedstock Methanol CFR India prices were assessed in the range of USD 230-240/MT.
  • This week overall crude oil prices plunged with little instability Recent announcements by Russia and Saudi Arabia have helped oil prices to recover and several analysts have highlighted the energy sector as a potential play for investors.
  • According to recent reports, Russia and Saudi Arabia has announced about the cut in supply of oil to be extended for another nine months i.e till arch 2018.are likely tp discuss this matter in their next meeting.
  • Experts from tm the oil market believe that Russia and other major producers could help drive oil prices back to $60 per barrel or more with a new production deal, but again that would be a green signal for U.S. shale drillers. This drive even could bring the oil to range in $60 oil the end of the year, but the gains are not expected to spike much higher.
  • On Thursday, closing crude values have increased.WTI on NYME closed at $49.35/bbl, prices have increased by $0.28/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.30/bbl in compared to last trading and was assessed around $52.51/bbl. 

1$ : Rs. 64.64
Import Custom Ex. Rate USD/ INR: 65.30
Export Custom Ex. Rate USD/ INR: 63.60