Acetic Acid Weekly Report 25 August 2018
Weekly Price Trend: 20-08-2018 to 24-08-2018
- The above given graph focuses on the Acetic Acid price trend from 20th Aug 2018 to 24th Aug 2018. If we take a quick look at the above given weekly prices, it can be observed that prices increased in this week.
- Domestic prices increased significantly in compare to last week’s closing values.
- By end of this week, prices were assessed at the level of Rs.63Kg for Kandla and Rs.64/Kg for Mumbai port for bulk quantity.
Total imports of Acetic Acid in July 2018
The above table depicts the total import of Acetic Acid in the month of July 2018
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid assessed around Rs.63/Kg for Kandla and for Rs.64/Kg Mumbai port of India. Prices increased in compare to last week’s closing values.
- CFR India price were assessed around USD 625-645/MT, reduced by USD 40/MTS in compare to last week’s closing values.
- Prices correction was seen in Indian market on back of gain in supply.
- This week oil prices have followed volatile trend. On Thursday oil prices plunged as an swelling trade dispute between the United States and China balanced news of a decline in U.S. commercial crude inventories.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $67.83/bbl. Prices have decreased by $0.03/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.05/bbl in compare to last closing price and was assessed around $74.73/bbl.
- Oil demand is closely linked to economic activity and the trade dispute has already led analysts to trim their forecasts for future energy consumption. But while the outlook for oil demand growth may be moderating, some markets are tight. As per report, this week's report was bullish for crude. Crude stocks drew due to sharply lower crude imports and near-record refinery crude runs.
1$ : Rs. 69.91
Import Custom Ex. Rate USD/ INR: 71.10
Export Custom Ex. Rate USD/ INR: 69.40
