Acetic Acid Weekly Report 9 August 2019
Weekly Price Trend: 05-08-2019 to 09-08-2019
- The above given graph focuses on the Acetic Acid price trend from 5th Aug to 9th Aug 2019. If we take a quick look at the above given weekly prices, it can be observed that prices remained stable for this week.
- Prices remained stable in values with no change in prices for this week. Prices were assessed at the level of Rs.34/Kg for Kandla and Mumbai port for bulk quantity.
Booking Scenario
INDIA& INTERNATIONAL
- Domestic prices of Acetic acid were assessed around Rs.34/Kg for Kandla and Mumbai port of India.
- CIF India prices for Acetic Acid were assessed around USD 420-440/MT with no change in international prices for this week.
- Prices for Methanol have reduced for this week as well. CFR India prices were assessed at the level of USD 213/MT, reduced by USD 10/MT in compare to last week’s closing values.
- Benzene the major source for aromatic products has also declined for this week. FOB Korea values for Benzene were assessed around USD 630/MT, decreased by USD 33/MT for this week, while CFR China prices also reduced and were assessed at the level of USD 625/MT for this week.
- The ongoing tensions between India and neighbouring state have been a matter of concern. The neighbouring state has cut down its all ties with India. Although this will not have major impact on India economy.
- Oil prices have still lost more than 20% from peaks reached in April.
- Oil prices fell on Friday amid fears over demand as the US-China trade row casts its shadow over markets, although prices got some support from expectations of more OPEC production cuts.
- Global financial markets have been rocked over the past week after US President Donald Trump said he would impose 10% tariffs on more Chinese goods starting September and as a fall in the Chinese yuan sparked fears of a currency war. "The tentative oil rebound could be short-lived as the US-China trade dispute is providing no real reasons to be optimistic.
1$: Rs. 70.74
Import Custom Ex. Rate USD/ INR: 70.00
Export Custom Ex. Rate USD/ INR: 68.30
