Acetic Acid Weekly Report 26 April 2019

Weekly Price Trend: 22-04-2019 to 26-04-2019

• The above given graph focuses on the Acetic Acid price trend from 22^nd April to 26^th April 2019. If we take a quick look at the above given weekly prices, it can be observed that prices remained stable with no change in values throughout this week.
• Prices remained soft-to-stable throughout this week. By end of this week, prices were assessed at the level of Rs.34/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL 

• Domestic prices of Acetic acid were assessed around Rs.34/Kg for Kandla and for Mumbai port of India. There has been no change in domestic values and prices remained unchanged for this week.
• CIF India prices for Acetic Acid were assessed around USD 400-420 increased by USD with no change in compare to last week’s closing values.
• Prices for Methanol have increased significantly in Indian market specifically due to shortage in supply. CFR India were assessed in the range of USD 315-317/MT increased by USD 16/MT in one week. Experts believe this hike is temporary and will not lastofr longer period.
• The election period going in the country has been major factor affecting the sentiments for Indian economy. Traders are in mood to know first about the government to take lead and then make any fresh position in the market.
• This week there has been continuous rise in oil prices in international market. Price rise has been in particularly due to end in the sanctions in waivers given by US against Iran to several other nations.
• India and China are the two major countries importing the most oil from Iran. Oil prices have rallied by more than two percent in this week in compare to closing of prices in the end of 2018. The grant provided to eight nations has now been pulled back by US.
• These potential disruptions to Iranian supplies add to an already tight market. The Organization of the Petroleum Exporting Countries (OPEC) has led supply cuts since the start of the year aimed at tightening global oil markets and to propping up crude prices.

1$: Rs. 70.01

Import Custom Ex. Rate USD/ INR: 70.40

Export Custom Ex. Rate USD/ INR: 68.70