Acetic Acid Weekly Report 24 July 2020
Weekly Price Trend: 20-07-2020 to 24-07-2020
- The above given graph focuses on the Acetic Acid price trend from 20th July to 24th July 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.29/Kg, remained unchanged in compare to last week’s closing values.
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 400-420/MT for this week, remained unchanged for this week.
- Petrochemical market has been through difficult conditions. The scenario is likely to continue for the second half of the year as well. The demand is likely to remain lull as major economies of the world are struggling with this pandemic. The ongoing tension between America and China has been the major concern.
- Chinese firms are facing tough time as most of the countries blame China for the rise of this pandemic. Covid 19 was first observed in Chinese province Wuhan. This pandemic has stalled all the major economies of the world.
- The petrochemical products are finding difficult to be absorbed as major industries are operating at slow rate. Still the operation activity of firms has not gain its complete momentum due to lack of labor.
- The stocks of chemicals are piling up and inventories are rising up. This was apparent as major Chinese polyester producers embarked on production cut, reckoning an inevitable move due to constricted margins and poor sales.
1$: Rs. 74.23
Import Custom Ex. Rate USD/ INR: 76.10
Export Custom Ex. Rate USD/ INR: 74.40
