Acetic Acid Weekly Report 24 Feb 2018

Weekly Price Trend: 19-02-2018 to 23-02-2018

• The above given graph focuses on the Acetic Acid price trend from 19th Feb 2018 to 23rd Feb 2018. If we take a quick look at the above given weekly prices, it can be observed that there has been slowdown in domestic values. The weakening of price trend has been continued past few weeks.
• By end of this week, prices were assessed at the level of Rs.51/Kg for Kandla and Rs.50.5/Kg for Mumbai port for bulk quantity.

Total import at various ports in the month of January 2018

The above chart depicts the import of Acetic Acid at various ports of India in the month of January 2018.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.51/Kg for Kandla and for Mumbai port of India.
• CFR India values reduced slightly for this week. Prices were assessed in the range of USD 710-730/MT.
• There has been slowdown in domestic values. Heavy imports in the month of January coupled with ample supply of Acetic Acid in domestuic market have plunged down the domestic values in the market.
• China market remained closed due to Lunar holidays. No activities and discussion were heard from other South Asian countries.
• Iran based Fanvaran Petrochemicals has restarted their Acetic Acid Acid unit on Tuesday.  Earlier the unit was shut down due to some technical glitch last week. Unit is based at Badar Imama in Iran and has the production capacity of 1,50,000 mt/year.
• This week oil prices have followed mixed trend. Oil prices rose on Thursday, on U.S. crude stocks unexpectedly declined and also by a drop in the dollar.
• On Thursday, closing crude values have increased. WTI on NYME closed at $62.77/bbl; prices have increased by $1.09/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.97/bbl in compared to last trading and was assessed around $66.39/bbl.
• Crude inventories had been forecast to rise 1.8 million barrels, as stocks seasonally increase when refineries cut intake to conduct maintenance. As per source, the unexpected fall in oil inventories in the U.S. should see support for crude oil prices remain strong.

1$ : Rs. 64.73
Import Custom Ex. Rate USD/ INR: 64.40
Export Custom Ex. Rate USD/ INR: 62.85