Acetic Acid Weekly Report 25 Nov 2017

Weekly Price Trend: 20-11-2017 to 24-11-2017

• The above given graph focuses on the Acetic Acid price trend from 20th Nov 2017 to 24th Nov 2017. If we take a quick look at the above given weekly prices, it can be observed that prices again improved for this week.
• By end of this week, prices were assessed at the level of Rs.47/Kg for Kandla and for Mumbai port for bulk quantity.

Total import at various ports in the month of October 2017

The above chart depicts the import of Acetic Acid at various ports of India in the month of October 2017.There has been slowdown in imports in the month of October 2017.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.47/Kg for Kandla and Mumbai ports of India.
• Market has been at its all time high due to limited supply of the chemical. There has been noticeable variation in domestic values. With ongoing winter season there has been slowdown in supply of natural gas which in turn has led to slowdown in the production of Methanol and Acetic Acid.
• Methanol values have also increased heavily for this week. Prices were assessed at the level of  CFR India 325/MTS, increased by 15/MTS in compare to last week’s closing values. On other side CFR China values were assessed around USD 363/MTS increased by USD 14/MTS in one week.
• During this winter season most of the major producers of Iran shut their unit either for maintenance or due to shortage in the supply of natural gas.
• There has been tightened supply of Acetic Acid in China market. Prices have been gaining in domestic market after long time. Inventories are now sinking in China market. Like Iran Chinese government has asked manufacturers to slowdown production using natural gas. But here the concern is of increasing pollution.
• There has been huge cult in the petrochemical production output in China since January to October. On an average production growth has slowdown for 8.5 % to 3.9%. This has been due to extra consciousness of communist government of China in environmental issues. The quality of air has been regarded as worst in Chin since past few years. To overcome such issues the government has decided to put an cult on the petchem production. The Beijing-Tianjin-Hebei Region has been constantly monitored by the government.
• Industry sources expect the environmental measures to be adopted in the eastern and southern parts of China as well, and could mean a further curtailment to the country's overall petrochemical supply that will consequently drive up prices.
• There “is likely to be significant disruption to existing chemicals’ capacity” amid China’s environmental protection campaign.

1$ : Rs. 66.20
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50