Acetic acid Weekly Report 26 Aug 2017

Weekly Price Trend: 21-08-2017 to 25-08-2017

• The above given graph focuses on the Acetic Acid price trend from 21st August 2017 to 25th Aug 2017. If we take a quick look at the above given we1ekly prices, it can be observed that this prices remained stable for this week.
• By end of this week, prices were assessed at the level of Rs.31.5/Kg for Kandla and for Mumbai port for bulk quantity.

Total import at various ports in the month of July 2017

The above chart depicts the import of Acetic Acid at various ports of India in the month of July 2017.There has been significant decline in imports in the month of June 2017.
Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid remained stable to firm for this week. There has been limited supply of the chemicals in the market. Prices were assessed at the level of Rs.31.5/Kg for Kandla and Mumbai port for bulk quantity.

• CIF India prices of Acetic acid were assessed around USD 420-440/MTS, with no chnage in compare to last week’s closing values. The overall market trend remained volatile throughout this week with majority of chemicals witnessing slowdown in international values.

• Due to ongoing monsoon season demand for Acetic Acid also plunges in domestic consumption.

• Now with starting of festive season across the nation requirement for paints and coatings will increase will in turn boost up the demand for this chemical.
• This week crude oil prices have remained volatile. On Friday, oil prices rose as the U.S. petroleum industry prepared for potential output disruptions as Hurricane Harvey headed for the heart of the nation’s oil industry in the Gulf of Mexico.  The storm has rapidly intensified since Thursday while On Thursday closing crude values have decreased.WTI on NYME closed at $47.43/bbl, prices have decreased by $0.98/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.53/bbl in compared to last trading and was assessed around $52.04/bbl.
• As per report, Prices rose as production in the affected area shut down in preparation for the hurricane, and on expectations that closures could last if the storm causes extensive damage.
• Market players have said that traders expect more upward pressure as the storm gets closer to Texas. Oil prices, however, fell because refiners may use less supply due to the storm.
• It is anticipated that recently oil prices to trade higher on account of support coming from inventory withdrawals in the US. However, Libya’s rising output remains a cause of concern for oil markets.

1$ : Rs. 64.03
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45