Acetic Acid Weekly Report 25 September 2020

Weekly Price Trend: 21-09-2020 to 25-09-2020

• The above given graph focuses on the Acetic Acid price trend from 21^st Sept to 25^th Sept 2020. If we take a quick look at the above given weekly prices, it can be observed that prices remained volatile throughout this week.
• By end of the week prices were assessed at the level of Rs.31-32/Kg, for both the ports. There has been decline in domestic values for this week.

Booking Scenario

 INDIA & INTERNATIONAL

• Domestic prices of Acetic acid were assessed in the range of Rs.31-32/Kg for Kandla and Rs.32.5/Kg for Mumbai ports of India.
• CIF India prices for Acetic Acid were assessed around USD 400-420/MT for this week, there has been decline in values of USD 20/MT for this week.
• Domestic market has been operating at moderate rate this week. Although the global pandemic continues to affect the market consumers and manufacturers.
• There was mixed trend in Acetic Acid market as prices continued to fluctuate throughout this week. The rising prices pf Methanol in global Asian market has been affecting the pricing of Acetic Acid in global market.
• The global market is feeling the heat of pandemic and exports across the nations has dropped significantly. Singapore the energy hub in the South Asian region has witnessed the decline in exports by 16.4%.
• There has been decline in capacity utilization of Indian refineries. On an average the capacity utilization for all categories has declined to 76% which was earlier 83% in the month of August. The lowest reruns of refineries owing pandemic and lockdown imposed has led to shutdown and maintenance of refineries. The run rate was 104% in the year-ago period.
• Refineries like Indian Oil Corp's Paradip, Reliance's export-oriented unit, and Hindustan Petroleum Corp. Ltd's Vizag refinery carried out maintenance programs at a time when retail demand is low due to the COVID-19 impact.
• On Thursday closing, there was improvement in prices. WTI on NYME closed at $40.31/bbl. Prices improved by 0.38/bbl in compared to last closing prices. While Brent on Inter Continental Exchange has reduced by $0.41/bbl in compare to last closing price and was assessed around $41.94/bbl.

 1$: Rs. 73.61

Import Custom Ex. Rate USD/ INR: 74.60

Export Custom Ex. Rate USD/ INR: 72.90