Acetic Acid Weekly Report 31 July 2020

Weekly Price Trend: 27-07-2020 to 31-07-2020

• The above given graph focuses on the Acetic Acid price trend from 27^th July to 30^th July 2020. If we take a quick look at the above given weekly prices, it can be observed that prices has improved for this week.
• By end of the week prices were assessed at the level of Rs.30/Kg, increased by Rs.1/Kg for this week.

Booking Scenario

INDIA& INTERNATIONAL 

• Domestic prices of Acetic acid were assessed around Rs.30/Kg for Kandla and for Mumbai ports of India.
• CIF India prices for Acetic Acid were assessed around USD 430-450/MT for this week, increased by USD 20/MT f0r this week.
• Petrochemical market has been through difficult conditions. The scenario is likely to continue for the second half of the year as well. The demand is likely to remain lull as major economies of the world are struggling with this pandemic. The ongoing tension between America and China has been the major concern.
• Chinese firms are facing tough time as most of the countries blame China for the rise of this pandemic. Covid 19 was first observed in Chinese province Wuhan. This pandemic has stalled all the major economies of the world.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $39.92/bbl. Prices have decreased by 1.35/bbl in compared to last closing prices. While Brent on Inter Continental Exchange have decreased by 0.81/bbl in compare to last closing price and was assessed around $42.94/bbl.

1$: Rs. 74.81

Import Custom Ex. Rate USD/ INR: 76.10

Export Custom Ex. Rate USD/ INR: 74.40