Acetic Acid Weekly Report 25 March 2017
Weekly Price Trend: 20-03-2017 to 24-03-2017
- The above given graph focuses on the Acetic Acid price trend from 20th March 2017 to 24th March 2017. If we take a quick look at the above given weekly prices, it can be observed that this week price of Acetic Acid reduced significantly for this week.
- By end of this week, prices were assessed at the level of Rs.38/Kg for Kandla and for Mumbai port for bulk quantity.
Total import at various ports in the month of February 2017
The above chart depicts the import of Acetic Acid at various ports of India in the month of February 2017.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid declined for this week. Prices were assessed at the level of Rs.28/Kg for Kandla and Mumbai port for bulk quantity.
- CIF India prices of Acetic acid were assessed around USD 385-405/MTS, with no change in compare to last week’s closing values.
- Feedstock Methanol CFR India prices were assessed in the range of USD 230-240/MT.
- Price trend for crude values remained thin with very few changes. Oil prices plunged initially as U.S. crude inventories increased faster than expected, piling pressure on OPEC to extend output cuts beyond June. Now investors await a meeting between OPEC and its allies that may signal whether they will extend output curbs.
- As per sources, American crude output continued to rise along with inventories, while OPEC won’t formally decide until May whether to extend production curbs, officials will meet this weekend in Kuwait to discuss their deal’s progress.
- Market analyst said that without the production cut agreement, prices could basically target the low-to-mid $30s, players are positive that they will extend production cut. Some players are anticipating lowering prices due to high supplies.
- On Monday WTI were closed at $49.31 and Brent closed at $51.76 while on Thursday, closing crude values have decreased.WTI on NYME closed at $47.70/bbl, prices have decreased by $0.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $50.56/bbl.
1$ : Rs. 65.41
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50
