Acetic Acid Weekly Report 7 Dec 2018

Weekly Price Trend: 03-12-2018 to 07-12-2018

• The above given graph focuses on the Acetic Acid price trend from 3^rd Dec 2018 to 7^th Dec 2018. If we take a quick look at the above given weekly prices, it can be observed that prices remained vulnerable throughout this week.
• With continuous fluctuation in crude values prices and appreciation of currency against dollar has affected domestic market significantly. In compare to last week there has been decline in domestic prices.
• By end of this week, prices were assessed at the level of Rs.45/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL

• Domestic prices of Acetic acid assessed around Rs.45/Kg for Kandla and for Mumbai port of India. There has been significant decline in the domestic values for this week.
• CIF India prices for Acetic Acid were assessed around USD 610-630/MT reduced by USD 20/MT in compare to last week’s closing values.
• Impact of decline in the Methanol values has also affected Acetic Acid prices in international market. Methanol values have reduced by more than USD 250/MTS in last one week.
• Crude market has remained vulnerable throughout this week.  There has been significant decline in olefins prices and aromatic products in this week.
•  Market is looking forward for China and US trade war. Oil prices fell on Friday as Opec discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board. International Brent crude oil futures fell below $60 per barrel, trading at $59.53 per barrel at 0750 GMT, down 53 cents, or 0.9 per cent from their last close. 
• On other side India has signed an agreement with Iran to pay for crude oil t imports from the Persian Gulf nation in rupees, Under US sanctions, India can export foodgrains, medicines and medical devices to Iran. India had won the exemption after it agreed to cut imports maximum of 300,000 barrels a day of crude oil. This compares to an average daily import of about 560,000 barrels this year. 

1$ : Rs. 70.77

Import Custom Ex. Rate USD/ INR: 71.75

Export Custom Ex. Rate USD/ INR: 70.05