Weekly Acetic Acid Report 23 October 2020

Weekly Price Trend: 19-10-2020 to 23-10-2020

• The above given graph focuses on the Acetic Acid price trend from 19^th Oct to 23^rd Oct 2020. If we take a quick look at the above given weekly prices, it can be observed that prices has been mixed trend in prices for this week.
• By end of the week prices were assessed at the level of Rs.36/Kg, for both the ports. Prices has improved for this week.

Booking Scenario

INDIA & INTERNATIONAL 

• Domestic prices of Acetic acid were assessed in the range of Rs.34-36/Kg for Kandla and for Mumbai ports of India.
• CIF India prices for Acetic Acid were assessed around USD 450-470/MT for this week, there has been no change in values for this week.
• Domestic market has been operating at moderate rate this week. Domestic market remained busy with purchases due to ongoing festivals across the nation. Although the global pandemic continues to affect the market consumers and manufacturers.
• There was mixed trend in Acetic Acid market as prices continued to fluctuate throughout this week. On contrary domestic Methanol market remained flat for this week.
• The festive season in the country has arrived with positive vibes. With upcoming holiday season and Diwali and ID holidays will add to the fresh buying for the customers. Government data are also showing improvement signs after a long overhaul due to pandemic surge in the country.
• With drop in the fresh cases and government announcement for funding of vaccine has elated the market and has brought fresh purchases. There has been good improvement in the automobile sector with highest recovery.
• Fresh purchase in the home appliances has improved as in Indian market it is general trend to make purchase of home appliances during Diwali. The offers in the market are also lucrative to attract more customers and improve the sell. There lies concern as Indian government has also shown concern for the same. The Health ministry has asked the citizens to maintain social distancing and to avoid social gatherings and sanitisation.

1$: Rs. 73.62 

Import Custom Ex. Rate USD/ INR: 74.25

Export Custom Ex. Rate USD/ INR: 72.55