Acetic Acid Weekly Report 31 May 2019
Weekly Price Trend: 27-05-2019 to 31-05-2019
- The above given graph focuses on the Acetic Acid price trend from 27th May to 31st May 2019. If we take a quick look at the above given weekly prices, it can be observed that prices remained weak with decline in values.
- Prices remained soft-to-stable throughout this week. By end of this week, prices were assessed at the level of Rs.30.5/Kg for Kandla and for Mumbai port for bulk quantity. Prices has improved by Rs.2.50/Kg for bulk quantity in compare to last week’s closing values.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.30.5/Kg for Kandla and for Mumbai port of India. There has been improvement decline in domestic values in compare to last week’s closing values.
- CIF India prices for Acetic Acid were assessed around USD 340-360 increased by USD 30/MTS in compare to last week’s closing values.
- Prices for Methanol have reduced severely significantly for this week. Prices were assessed in the USD 249-269 for last week. With turbulence in crude values it has become difficult to anticipate Methanol values.
- Oil prices have been plunging to its lowest levels since March 2019. The reason behind this has been the stockpiling in US since March 2019 following a smaller than expected drop in weekly inventories.
- West Texas was recorded at $ 56.55/barrel this week, decline by 4% in this week. On other side, Brent was recorded at $66.4/barrel declined by 4.4% for this month.
- On Thursday day, closing crude values have decreased. WTI on NYME closed at $56.59/bbl. Prices have decreased by 2.22/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $2.58/bbl in compare to last closing price and was assessed around $66.87/bbl.
1$: Rs. 69.68
Import Custom Ex. Rate USD/ INR: 71.15
Export Custom Ex. Rate USD/ INR: 69.50
