Acetic Acid Weekly Report 28 April 2018

Weekly Price Trend: 23-04-2018 to 27-04-2018

• The above given graph focuses on the Acetic Acid price trend from 23rd April 2018 to 27th April 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained high and firm throughout this week.
• By end of this week, prices were assessed at the level of Rs.52/Kg for Kandla and for Mumbai port for bulk quantity.

Total import at various ports in the month of March 2018

The above table depicts the various imports of Acetic Acid in the month of March 2018.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.52/Kg for Kandla and Mumbai port of India. There has been improvement in Acetic Acid values in domestic as well international market.
• CFR India price were assessed around USD 700-720/MT with no change in compare to last week’s closing values.
• With announcement of shut down of Methanol units in Iran, price for Methanol has also increased in Asian market. Acetic Acid is downstream product of Methanol.
• Fanavaran Petrochemical Company has shut down its Methanol unit for maintenance turnaround. The unit has been put off-stream as per annual maintenance schedule. The unit was shut down on 20th April 2018. The unit is likely to remain off-stream for around 25 days.
• Unit is based at Bandar Imam Khomeini in Iran and has the manufacturing capacity of 1,000,000 mt/year.
• This week oil prices have followed little volatility at the end of the week prices have escalated. On Thursday oil prices increased, supported by expectations of renewed U.S. sanctions on Iran, declining output in Venezuela and ongoing strong demand.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.19/bbl; prices have increased by $0.14/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $74.74/bbl.
• Venezuela's plunging output and looming U.S. sanctions against Iran come against a backdrop of strong demand, especially in Asia, the world's biggest oil consuming region. However, not all market indicators point towards tighter supplies. Soaring U.S. oil production and exports are holding back further price gains.

1$ : Rs. 66.66
Import Custom Ex. Rate USD/ INR: 66.70
Export Custom Ex. Rate USD/ INR: 65.00