Acetic Acid Weekly Report 21 February 2020
Weekly Price Trend: 17-02-2020 to 21-02-2020
- The above given graph focuses on the Acetic Acid price trend from 17th Feb to 21st Feb 2020. If we take a quick look at the above given weekly prices, it can be observed that prices decreased in this week.
- By end of the week prices were assessed at the level of Rs.29/Kg, slightly plunged in this week.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.29/Kg for Kandla and for Mumbai ports of India.
- CIF India prices for Acetic Acid were assessed around USD 520-540/MT, reduced by USD 20/MTS for this week.
- Prices for Methanol on other side remained unchanged as market remained closed today with no change in values.
- Oil prices has been on rising trend as the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.
- Scores of new coronavirus cases and a first death in South Korea fanned fears of global pandemic as research suggested it could be more contagious than previously thought.
- China’s move to cut its benchmark lending rate eased some worries about slowing demand in the world’s second-biggest oil consumer and largest crude oil importer.
- Indian markets remained closed due to festival of shivratri across the country and very few discussions were heard in the market.
1$: Rs. 71.66
Import Custom Ex. Rate USD/ INR: 72.65
Export Custom Ex. Rate USD/ INR: 70.95
