Acetic Acid Weekly Report 22 April 2017

Weekly Price Trend: 17-04-2017 to 21-04-2017

• The above given graph focuses on the Acetic Acid price trend from 17th April 2017 to21st April 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 slightly for this week.
• By end of this week, prices were assessed at the level of Rs.29.5/Kg for Kandla and for Mumbai port for bulk quantity.

Total import at various ports in the month of March 2017

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

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid reduced slightly for this week. Prices were assessed at the level of Rs.29.5/Kg for Kandla and Mumbai port for bulk quantity.

• CIF India prices of Acetic acid were assessed around USD 375-395/MTS, with an decrease of USD 5/MTS 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 oil prices followed mixed trend. On Wednesday oil slumped after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply.
• According to reports, the surprise builds in gasoline, along with an increase in U.S. production and imports from OPEC nations, pressured prices. With just weeks to go before OPEC and other producers have to sign off on a new deal to hold down production. OPEC technical staff this month is expected to make a recommendation on whether to extend the cuts, and OPEC's monitoring committee meets the day before OPEC's May 25 meeting.
• Market players have said that to prevent a further ballooning in supplies, some OPEC producers including Saudi Arabia and Kuwait are lobbying to extend the pledge to cut production beyond June.
• On Thursday, closing crude values have remained mixed.WTI on NYME closed at $50.27/bbl, prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $52.99/bbl.

1$ : Rs. 64.61
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85