Acetic Acid Weekly Report 24 Nov 2018
Weekly Price Trend: 19-11-2018 to 23-11-2018
· The above given graph focuses on the Acetic Acid price trend from 19th Nov 2018 to 23rd Nov 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained vulnerable throughout this week.
· With continuous decline in crude values prices and appreciation of currency against dollar has affected domestic market significantly. In compare to last week there has been decline in domestic prices.
· By end of this week, prices were assessed at the level of Rs.49/Kg for Kandla and for Mumbai port for bulk quantity.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid assessed around Rs.55/Kg for Kandla and Rs.56/Kg for Mumbai port of India. There has been significant decline in the domestic values for this week.
- Post Diwali market has remained vulnerable with constant fluctuating international prices.
- Crude market has declined by more than 30% in the month of November. Prices have remained vulnerable throughout this week.
- In last one month, crude prices have reached to its lowest level with WTI closed at $54.43 which was earlier $75 per barrel in the first week of October. Decline in crude values has also affected the Indian currency against dollar. Rupee settled at Ra.70.67 reduced by Rs.5 against dollar.
- CIF India prices for Acetic Acid were assessed around USD 640-660/MT reduced by USD 20/MT in compare to last week’s closing values.
- Impact of decline in the Methanol values has also affected Acetic Acid prices in international market. Methanol values have reduced by more than USD 50/MTS in last one week.
1$ : Rs. 70.67
Import Custom Ex. Rate USD/ INR: 72.95
Export Custom Ex. Rate USD/ INR: 71.25
