Acetic Acid Weekly Report 29 April 2017
Weekly Price Trend: 24-04-2017 to 28-04-2017
- The above given graph focuses on the Acetic Acid price trend from 24th April 2017 to 28th April 2017. If we take a quick look at the above given weekly prices, it can be observed that this week price of Acetic Acid improved slightly for this week.
- By end of this week, prices were assessed at the level of Rs.30.5/Kg for Kandla and for Mumbai port for bulk quantity.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid reduced slightly for this week. Prices were assessed at the level of Rs.29.5/Kg for Kandla and Mumbai port for bulk quantity.
- CIF India prices of Acetic acid were assessed around USD 375-395/MTS, with an decrease of USD 5/MTS in compare to last week’s closing values.
- Feedstock Methanol CFR India prices were assessed in the range of USD 230-240/MT.
- Through the week oil prices have remained volatile. As per recent data in last 15 days oil prices sharply have stabbed rapidly, WTI from $53 a barrel down to $48 while Brent declined from $55 to $51. The falling oil means weakening economic demand, the reality is that oil is being driven by increased supply. On Thursday oil prices have plunged as the resume of two key Libyan oilfields and concerns about dreary gasoline demand fed concern over whether major oil producers can lessen the glut of global inventories.
- On Thursday, closing crude values have decreased.WTI on NYME closed at $48.97/bbl, prices have increased by $0.65/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.38/bbl in compared to last trading and was assessed around $51.44/bbl.
- As per market analyst As gas prices dropped, it created an undertow for the entire crude oil market. The outlook for oil prices will remain unstable. Decline in crude prices and therefore petroleum product prices also means corresponding reduction in prices of some of the raw materials for the petrochemical industry. Hence, it can be a factor in improving the profitability of that industry.
1$ : Rs. 64.24
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85
