Acetic Acid Weekly Report 28 February 2020
Weekly Price Trend: 24-02-2020 to 28-02-2020
- The above given graph focuses on the Acetic Acid price trend from 24th Feb to 28th Feb 2020. If we take a quick look at the above given weekly prices, it can be observed that prices decreased in this week.
- By end of the week prices were assessed at the level of Rs.27/Kg, declined by Rs2/Kg for this week.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.27/Kg for Kandla and for Mumbai ports of India.
- CIF India prices for Acetic Acid were assessed around USD 490-510/MT, reduced by USD 30/MTS for this week.
- Prices for Methanol on other side have reduced slightly for this week. Prices were assessed around USD 202/MT reduced by USD 3/MT for this week.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $47.09/bbl. Prices have decreased by 1.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 1.25/bbl in compare to last closing price and was assessed around $53.18/bbl.
- Oil prices has been operating on declining mode and were on track for about a 12 per cent weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.
- The virus, which has already killed more than 2,700 people in China, has been found in another 46 countries and caused 57 deaths. Experts worry the epidemic could turn into a pandemic and deliver a damaging blow to the global economy.
- The most active Brent crude contract for May was down 90 cents, or 1.7 per cent, at $50.83 a barrel by 0141 GMT, a 14-month low. The front-month April contract expires today.
- The international benchmark, which fell about 2 per cent on Thursday, has shed around 12 per cent this week and is on track for its steepest weekly decline since mid-January 2016.
- With new infections reported around the world now surpassing those in mainland China, the World Health Organization said on Thursday that all countries need to prepare to combat the coronavirus.
1$: Rs. 72.20
Import Custom Ex. Rate USD/ INR: 72.65
Export Custom Ex. Rate USD/ INR: 70.95
