Acetic Acid Weekly Report 30 Dec 2017

Weekly Price Trend: 25-12-2017 to 29-12-2017

• The above given graph focuses on the Acetic Acid price trend from 25th Dec 2017 to 29th Dec 2017. If we take a quick look at the above given weekly prices, it can be observed that there has been slowdown in domestic values.
• Last week there has been an unprecedented hike in domestic values due to limited supply of chemical in the international market. By end of this week, prices were assessed at the level of Rs.46/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.46/Kg for Kandla and Mumbai ports of India.
• Market has slowed down in domestic market due to supply of chemical in the market. There has been noticeable variation in domestic values.
• There has been significant slowdown in domestic values for Acetic Acid in domestic market.

This week crude oil prices have remained fluctuating. As 2017 draws to a close, On Thursday oil prices increased on lifted by strong data from top importer China and on increased U.S. refining activity that drew more crude from inventories. Recently,  thin trading activity ahead of the New Year weekend.

As per report, market condition has been tight due to ongoing supply cuts led by OPEC, as well as top producer Russia.

On Thursday, closing crude values have increased. WTI on NYME closed at $59.84/bbl; prices have increased by $0.20/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.28/bbl in compared to last trading and was assessed around $66.72/bbl.

As per market analyst, In the first half of 2018, market will remain quite bullish as Saudi Arabia continues to signal its intent to privatize part of Saudi Aramco, the state-owned oil company, in an initial public offering expected in late 2018. As such, the Saudis will be quite motivated to keep prices up going into that sale. The risk to that outlook could become apparent if Russia stops cooperating, which has been a significant tipping factor in the cuts' effectiveness.

1$ : Rs. 63.87
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.20