Acetic Acid Weekly Report 8 November 2019
Weekly Price Trend: 04-10-2019 to 08-11-2019
- The above given graph focuses on the Acetic Acid price trend from 4th Nov to 8th Nov 2019. If we take a quick look at the above given weekly prices, it can be observed that prices has declined significantly in this week.
- By end of the week prices were assessed at the level of Rs.33/Kg, slightly reduced for this week.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.33/Kg for Kandla and for Mumbai port of India.
- CIF India prices for Acetic Acid were assessed around USD 460-480/MT, reduced by USD 30/MT for this week.
- Prices for Methanol on other side slightly improved for this week. CFR India prices were assessed at the level of USD 213/MT, increased by USD 2 for this week in compare to last week’s closing values.
- Crude prices have been under pressure as uncertainties around the 16-month long trade war between the United States and China exhausted the demand prospects for oil. No concrete outcome of the prolonged trade and tariff spat continue to undermine the demand prospects for Crude and push the prices lower.
- Weak economic data from China and U.S. amid fading optimism over a possible trade deal between U.S. & China might weigh on the prices.
- Moreover, rising U.S. Crude inventory levels might further weigh on the prices. On the MCX, oil prices are expected to trade lower today; international markets are trading lower by 0.12 percent at $56.28 per barrel.
- On Thursday, closing crude values have increased. WTI on NYME closed at $57.15/bbl. Prices have increased by 0.80/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.55/bbl in compare to last closing price and was assessed around $62.29/bbl.
1$: Rs. 71.24
Import Custom Ex. Rate USD/ INR: 72.00
Export Custom Ex. Rate USD/ INR: 70.30
