Acetic Acid Weekly Report 21 August 2020
Weekly Price Trend: 17-08-2020 to 21-08-2020
- The above given graph focuses on the Acetic Acid price trend from 17th Aug to 21st Aug 2020. If we take a quick look at the above given weekly prices, it can be observed that prices has reduced for this week.
- By end of the week prices were assessed at the level of Rs.26.5/Kg, with slight decline in domestic values.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.25.5/Kg for Kandla and for Mumbai ports of India.
- CIF India prices for Acetic Acid were assessed around USD 370-390/MT for this week, reduced by USD 40/MT for this week.
- Domestic market has been operating at slower rate this year due to pandemic. The season of festivals has already started in India but there is no demand nor any kind of rush for domestic consumption.
- There has been mixed trend in petrochemical market. Prices for the specific category of chemicals have been declining with slowdown in demand. Petrochemical segment has been struggling owing oversupply. There has been steep decline in consumption as most of the economies in Asian subcontinent are passing through major recession phase.
- Most major countries in Southeast Asia posted sharp economic contractions in the second quarter, while the number of infections in countries such as Indonesia, the Philippines and India continue to spike.
- Producers are not lowering offers substantially to maintain some margins due to a relatively stable feedstock acetic acid market.
1$: Rs. 74.84
Import Custom Ex. Rate USD/ INR: 75.90
Export Custom Ex. Rate USD/ INR: 74.15
