Acetic Acid Weekly Report 30 Nov 2018
Weekly Price Trend: 26-11-2018 to 30-11-2018
· The above given graph focuses on the Acetic Acid price trend from 26th Nov 2018 to 30th Nov 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained vulnerable throughout this week.
· With continuous decline in crude values prices and appreciation of currency against dollar has affected domestic market significantly. In compare to last week there has been decline in domestic prices.
· By end of this week, prices were assessed at the level of Rs.4+/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 for Mumbai port of India. There has been significant decline in the domestic values for this week.
- Crude has declined by more than 20% in last three weeks. Oil prices closed at a new yearly low Wednesday but edged up Thursday to $51.45/bbl in morning trading. Since hitting the yearly high in early October, benchmark West Texas Intermediate has dropped by 32%.
- Major oil prices were floating in the range of USD 100 just last few weeks which has now lowered to its half the level. The oversupply from Russia and Saudi Arabia has put an additional pressure on the prices of petrochemical products.
- CIF India prices for Acetic Acid were assessed around USD 620-640/MT reduced by USD 20/MT in compare to last week’s closing values.
- Impact of decline in the Methanol values has also affected Acetic Acid prices in international market. Methanol values have reduced by more than USD 250/MTS in last one week.
1$ : Rs. 69.65
Import Custom Ex. Rate USD/ INR: 72.95
Export Custom Ex. Rate USD/ INR: 71.25
