Weekly Acetic Acid Report 29th January 2021

Weekly Price Trend: 25-01-2021 to 29-01-2021

• There has been continuous rise in domestic prices in Acetic Acid market this week.
• By end of this week prices were assessed at the level of Rs.59-60/Kg, for both the ports.
• The rise has been in particular due to tightened supply of the chemical in domestic market.

 Booking Scenario

INDIA & INTERNATIONAL

• Domestic prices of Acetic acid were assessed at the level of Rs.59-60/Kg for this week.
• There has been significant rise in domestic prices of Acetic Acid for this week. Prices increased by Rs.5/Kg in last one week.
• The local demand for Acetic Acid has increased by many folds as festive season is over and local supply has been tightened enough.
• There has been tightened supply of Methanol in domestic market which in turn has affected the Acetic Acid supply as well.
• CIF India prices were assessed in the range of USD 620-640/MT for this week. Prices has increased by USD 40/MT for this week.
• US-based acetyls producer Celanese has increased the capacity of its acetic acid expansion project in Clear Lake, Texas, and is looking into options for supplying feedstock methanol once the project is complete, the company said on Friday.
• The company previously announced that the project will resume after it was put on hold in April 2020 and is expected to be completed in the first half of 2023.
• Domestic manufacturer GNFC has also increased its Acetic Acid prices by Rs.5.50/KG. New prices are Rs.52/Kg +GST.
• Market is waiting for the announcement of budget next week. All are keeping their eyes for the announcement of new policies and amendments in existing one.

 1$: Rs. 72.95

 Import Custom Ex. Rate USD/ INR: 73.85

 Export Custom Ex. Rate USD/ INR: 72.10