Acetic Acid Weekly Report 27 September 2019
Weekly Price Trend: 23-09-2019 to 27-09-2019
- The above given graph focuses on the Acetic Acid price trend from 23rd Sept to 27th Sept 2019. If we take a quick look at the above given weekly prices, it can be observed that prices remained vulnerable for this week.
- Prices remained vulnerable with decline in values in mid of the week. Later there was correction in values. Prices were assessed at the level of Rs.37/Kg for Kandla and for Mumbai port for bulk quantity.
Booking Scenario 
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.36.5/Kg for Kandla and for Mumbai port of India.
- CIF India prices for Acetic Acid were assessed around USD 440-460/MT, remained unchanged for this week.
- Prices for Methanol slightly reduced for this week. CFR India prices were assessed at the level of USD 212/MT, reduced by USD 3/MT for this week in compare to last week’s closing values. Indian market is operating at slow note due to ongoing festive season across the nation.
- China will be celebrating its Golden week festival next week. So prior to this most of Chinese markets are in mood to wind up their activities and to make fresh deals only after mini vacation.
- The major manufacturers will be opting for either shutdown or , cutbacks and restricted highway transportation. Overall there will be completed silence from China market and very limited enquiries will be heard for next week.
- Benzene the major source for aromatic products also remained unchanged for this week. FOB Korea values for Benzene were assessed around USD 720/MT for this week, while CFR China prices were assessed at the level of USD 730/MT for this week.
- Oil prices fell on Friday, erasing more of the gains realized after the Sept. 14 attacks on Saudi Arabian oil facilities, as the rapid return of production capacity from the world’s top exporter squashed risk premiums.
- For most of the week the market has been trading lower as oil bulls have been discouraged by the quicker-than-expected return of Saudi oil output.
- Saudi Arabia had brought its production capacity back to 11.3 million barrels per day (bpd) less than two weeks after the attacks on it oil facilities, sources briefed on the matter told Reuters this week.
- The attacks, which knocked out 5.7 million bpd of production, initially sent oil prices up 20% although they dropped soon after as the kingdom pledged to bring back output by the end of September.
1$: Rs. 70.61
Import Custom Ex. Rate USD/ INR: 72.20
Export Custom Ex. Rate USD/ INR: 70.50
