Acetic Acid Weekly Report 31 March 2018

Weekly Price Trend: 26-03-2018 to 30-03-2018

• The above given graph focuses on the Acetic Acid price trend from 26th March 2018 to 30th March 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained vulnerable throughout this week.
• By end of this week, prices were assessed at the level of Rs.51.5/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.51.5/Kg for Kandla and for Mumbai port of India. There has been constant slowdown in Acetic Acid values in domestic as well international market.
• The prices have been weakened due to oversupply of the chemical in the domestic market ans weak demand from downstream industry.
• CFR India values remained unchanged for this week. Prices were assessed in the range of USD 735-755/MT. Imports has been stable in the month of February.
• Acetic Acid prices are likely to gain momentum in the second half quarter. The prices are expected to soar up due to limited supply and momentum in demand from downstream sector. In next month many domestic units of China will shut down their Acetic Acid unit for maintenance schedule. Demand from another major downstream vinyl acetate (VAM), which accounts for about 20% of acetic acid consumption, is expected to increase, especially after a 450,000 tonne/year VAM unit wraps up maintenance in May.
• China based Henan Coal Longyu Coal will shut down its Acetic Acid unit for maintenance turnaround. The unit will go off-stream for two to three weeks. Unit based in China has the manufacturing capacity of 450 MT/year.
• China based Tianjin Soda will shut down its Acetic Acid unit for maintenance turnaround. The unit will go off-stream for three weeks. Unit based in China has the manufacturing capacity of 250 MT/year.
• China based Sinopec Great Wall Energy and Chemical will shut down its Acetic Acid unit for maintenance turnaround. The unit will go off-stream for 45 days in the first week of April. Unit based in China has the manufacturing capacity of 300 MT/year.

1$ : Rs. 65.17
Import Custom Ex. Rate USD/ INR: 65.80
Export Custom Ex. Rate USD/ INR: 64.15