Acetic Acid Weekly Report 25 Jan 2019

Weekly Price Trend: 21-01-2019 to 25-01-2019

• The above given graph focuses on the Acetic Acid price trend from 21^st Jan to 25^th Jan 2019. If we take a quick look at the above given weekly prices, it can be observed that prices remained stable to firm for this week.
• With continuous fluctuation in crude values prices there has been considerable decline in domestic values.
• By end of this week, prices were assessed at the level of Rs.36/Kg for Kandla and for Mumbai port for bulk quantity.

Booking Scenario

INDIA& INTERNATIONAL 

• Domestic prices of Acetic acid assessed around Rs.36/Kg for Kandla and for Mumbai port of India. This week domestic prices remained unchanged and stable.
• CIF India prices for Acetic Acid were assessed around USD 530-560/MT remained unchanged in compare to last week’s closing values.
• Impact of decline in the Methanol values has significantly affected the Acetic Acid prices in international market. Methanol values have improved by USD 2 and were assessed at the level of USD 234/MTS for this week.
• Oil prices remained vulnerable throughout this week. With concerns over surging in crude production lacklustre in demand crude prices declined on Thursday. The scenario was completely different on Friday.
• Crude has been on toes as US/China continues to worry the world and on other side there has been heavy production of crude from US.
• These global worries are having an adverse impact on the world economic growth. On Thursday, closing crude values have increased. WTI on NYME closed at $53.13/bbl. Prices have increased by $0.51/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.05/bbl in compare to last closing price and was assessed around $61.09/bbl. 

PLANT NEWS

Acetic Acid unit shut down by Henan Yima Gasification

• China based Henan Yima Gasification has shut down its Acetic Acid unit for maintenance turnaround. The unit has been shut down for 3-4 days on back of electricity failure. Once the issue is sorted out the unit will restart tis production.
• Unit is based at Yima in the Henan province of China and has the production capacity of Acetic Acid of 2,00,000 tonnes/year. 

1$: Rs. 71.16

Import Custom Ex. Rate USD/ INR: 72.10

Export Custom Ex. Rate USD/ INR: 70.40