Acetic Acid Weekly Report 28 July 2018

Weekly Price Trend: 23-07-2018 to 27-07-2018

• The above given graph focuses on the Acetic Acid price trend from 23rd July 2018 to 27th July 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained soft-to-stable for this week.
• Domestic prices reduced significantly in compare to last week’s closing values.
• By end of this week, prices were assessed at the level of Rs.51/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.51/Kg for Kandla and for Mumbai port of India. Prices reduced in compare to last week’s closing values.
• CFR India price were assessed around USD 595-615/MT, reduced by
  USD 15/MTS in compare to last week’s closing values.
• Prices in Indian market are likely to remain weak as there are heavy rains in Mumbai and western part of India. There is a huge impact of monsoon season on the demand for Acetic Acid which is most common used in paint and laminate industry.
• BP has lifted force majeure on its Acetic Acid after three months. The unit was shut down due to equipment issues by a carbon monoxide supplier. The repair work has been completed which has allowed the acetic acid unit to restart.
• Eastman only has two US acetic acid plants, a 255,000 tonne/year unit at corporate headquarters in Kingsport, Tennessee, and a 600,000 tonne/year plant at Texas City, Texas.
• BP added that delays remain in product delivery because the company is refilling the supply chain and the inventory at terminals and trainloads. BP declared force majeure on products from Eastman Chemical’s 600,000 tonne year plant in Texas City.

1$ : Rs. 68.65
Import Custom Ex. Rate USD/ INR: 69.60
Export Custom Ex. Rate USD/ INR: 67.90