Acetic Acid Weekly Report 30 Sep 2017
Weekly Price Trend: 25-09-2017 to 29-09-2017
- The above given graph focuses on the Acetic Acid price trend from 25h Sept 2017 to 29th Sept 2017. If we take a quick look at the above given weekly prices, it can be observed that this prices remained soft to stable for this week.
- By end of this week, prices were assessed at the level of Rs.35/Kg for Kandla and for Mumbai port for bulk quantity.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid assessed on firm note. There has been slight variation in domestic values. There has been limited supply of the chemicals in the market. Prices were assessed at the level of Rs.35/Kg for Kandla and Mumbai port for bulk quantity.
- CIF India prices of Acetic acid were assessed around USD 520-540/MTS, increased by USD 45/MTS in compare to last week’s closing values. The overall market trend remained volatile throughout this week with majority of chemicals witnessing hike in international values.
- This week oil prices have followed mixed trend. Investors have really gained confidence in oil, after the OPEC cuts that were originally discussed earlier in the year are starting to take shape here, and oil production is being curbed.
- On Thursday, closing crude values have plunged.WTI on NYME closed at $51.56/bbl, prices have decreased by $0.58/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.49/bbl in compared to last trading and was assessed around $57.41/bbl. Due to the combination of production cuts and growing demand, oil could head up to its 2017 high, just above $55, or even $60 per barrel by year-end. A global supply glut has plagued the market for several years, and OPEC member countries and non-member producers have vowed to implement cuts to curb such oversupply.
1$ : Rs. 66.20
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70
