Acetic Acid Weekly Report 23 Sep 2017

Weekly Price Trend: 18-09-2017 to 22-09-2017

• The above given graph focuses on the Acetic Acid price trend from 18th Sept 2017 to 22nd Sept 2017. If we take a quick look at the above given we1ekly prices, it can be observed that this prices remained vulnerable for this week.
• By end of this week, prices were assessed at the level of Rs.34.5/Kg for Kandla and for Mumbai port for bulk quantity.

Total import at various ports in the month of August 2017

The above chart depicts the import of Acetic Acid at various ports of India in the month of
August 2017.There has been significant rise in imports in the month of August 2017.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed firm note. There has been slight variation in domestic values. There has been limited supply of the chemicals in the market. Prices were assessed at the level of Rs.34.5/Kg for Kandla and Mumbai port for bulk quantity.
• CIF India prices of Acetic acid were assessed around USD 435-455/MTS, with no chnage in compare to last week’s closing values. The overall market trend remained volatile throughout this week with majority of chemicals witnessing hike in international values.
• This week oil prices followed mixed trend. Oil prices were steady on Thursday ahead of a meeting of oil producers that could extend production limits aimed at clearing a glut that has depressed the market for more than three years. As per report, Ministers from the OPEC, Russia and other producers meet in Vienna on Friday and are due to consider extending output cuts that began in January.
• On Thursday, closing crude values have mixed.WTI on NYME closed at $50.55/bbl, prices have decreased by $0.14/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.14/bbl in compared to last trading and was assessed around $56.43/bbl. Presently many analysts anticipate that OPEC to extend the deal, possibly to the end of next year.
• Texas based Methanol unit has been restarted this week. Earlier this unit was shut down due to heavy rains and hurricane Harvey. The authorities from Celanese has confirmed this news and restarted its unit at Clear Lake city in Texas. Due to this shut down the prices for Methanol has been soaring in the US market. The other downstream products like Acetic Acid and VAM units too suffered a lot on the same site. This methanol unit has the production capacity of 1.3 million mt/year.

1$ : Rs. 64.79
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70