Acetic Acid Weekly Report 21 April 2018

Weekly Price Trend: 16-04-2018 to 20-04-2018

The above given graph focuses on the Acetic Acid price trend from 16th April 2018 to 20th April 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained high and firm throughout this week.

• By end of this week, prices were assessed at the level of Rs.51/Kg for Kandla and Rs.51.5/Kg for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.51/Kg for Kandla and Rs.51.5/Kg for Mumbai port of India. There has been improvement in Acetic Acid values in domestic as well international market.
• CFR India price were assessed around USD 700-720/MT with no change in compare to last week’s closing values.
• China based Shanghai Wujing Chemical Corp will shut down its Acetic Acid unit for maintenance turnaround. The unit will go off-stream either in April or May. The restart date has not been specified yet. Unit based in China has the manufacturing capacity of 700 MT/year.
• China based Yankuang Cathay Coal Chemical will shut down its Acetic Acid unit for maintenance turnaround. The unit will go off-stream in the first week of May. Unit is likely to remain off-stream for around one month. Unit based in China has the manufacturing capacity of 1000 MT/year.
• The prices have seen a new height in crude sector since 2014 due to ongoing in global supply with Saudi Arabia intending for prices to still go high in the international market.
• The previous oversupply of crude is no more in the international market. Experts believe that reaching the marl of $ 70 is very near in the future.
• Oil prices have escalated through the week but on Thursday prices have remained mixed. On Thursday, closing crude values have decreased. WTI on NYME closed at $68.29/bbl; prices have decreased by $0.18/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 $73.78/bbl.

1$ : Rs. 66.03
Import Custom Ex. Rate USD/ INR: 66.70
Export Custom Ex. Rate USD/ INR: 65.00