Acetic Acid Weekly Report 28 June 2019
Weekly Price Trend: 24-06-2019 to 28-06-2019
- The above given graph focuses on the Acetic Acid price trend from 24th June to 28th June 2019. If we take a quick look at the above given weekly prices, it can be observed that prices remained firm in values.
- Prices remained soft-to-stable throughout this week. By end of this week, prices were assessed at the level of Rs.30/Kg for Kandla and for Mumbai port for bulk quantity. Prices slightly reduced for this week and were assessed at the level of Rs.30/Kg for bulk quantity for both the ports.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.30/Kg for Kandla and for Mumbai port of India. There has been slightly slowdown in values in domestic values on back of weakening in demand from domestic market.
- CIF India prices for Acetic Acid were assessed around USD 352-372 with no change in compare to last week’s closing values.
- Prices for Methanol have remained stable for this week. But since last six months there has been slowdown in international prices for Methanol. It has been floating below USD 270/MT mark and has not seen any major hike in last two months.
- Oil prices remained firm on Friday, with focus shifting to the G20 summit where a scheduled meeting between US President Donald Trump and Chinese President Xi Jinping has stirred hopes that trade tensions could ease.
- A trade dispute between the world's two biggest economies has weighed on oil prices, fanning fears that slowing economic growth could dent demand for the commodity.
- According to experts "While there are no expectations of a truce between the two parties, it will set the scene for the OPEC meeting a couple of days later.
- The Organization of Petroleum Exporting Countries (OPEC) and some non-members including Russia, known as OPEC+, will hold meetings on July 1-2 in Vienna to decide whether to extend their supply cuts.
1$: Rs. 69.05
Import Custom Ex. Rate USD/ INR: 70.40
Export Custom Ex. Rate USD/ INR: 68.70
