Acetic Acid Weekly Report 5 April 2019
Weekly Price Trend: 01-04-2019 to 05-04-2019
- The above given graph focuses on the Acetic Acid price trend from 1st April to 5th April 2019. If we take a quick look at the above given weekly prices, it can be observed that prices remained stable in domestic market.
- Prices remained firm and stable throughout 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 were assessed around Rs.35/Kg for Kandla and for Mumbai port of India. This week domestic values improved by Rs.2.5/Kg in domestic market.
- CIF India prices for Acetic Acid were assessed around USD 400-420 increased by USD 20/MTS for this week.
- Prices for Methanol have remained stable with no change since last few weeks has also affected the Acetic Acid values in domestic as well as international market. CFR India Methanol prices were assessed at the level of USD 290/MT.
- Indian currency has also strengthened against dollar in last few weeks. This has been one of the strongest performances of rupee against dollar since last few years
- There have been constant fluctuation inlrude prices in international market. US has been worried for the formation of new Middle East bloc comprising of Turkey, Iran and Qatar.
- These nations are already in black list of US, now with strong connection among these countries the trigger is felt by the US government.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $59.30/bbl. Prices have decreased by $0.11/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.01/bbl in compare to last closing price and was assessed around $67.82/bbl.
1$: Rs. 69.48
Import Custom Ex. Rate USD/ INR: 69.45
Export Custom Ex. Rate USD/ INR: 67.75
