Acetone Weekly Report 02 Dec 2017

Weekly Price Trend: 27-11-2017 to 01-12-2017

 The above given graph focuses on the Acetone price trend. If we take a quick look at the above given weekly prices, it can be observed that this week prices of Acetone have remained volatile. By the end of the week prices of Acetone were assessed at the level of Rs.56/kg for Kandla and 56/kg for Mumbai ports of India.

Booking Scenario

• These prices are inclusive of anti dumping duty.

INDIA& INTERNATIONAL

• For the current week in domestic market acetone price have increased in compare to previous week and at the end of the week prices were assessed at the level of Rs 56/kg for Kandla and Rs 56/kg Mumbai ports.
• This week in international market, prices of Acetone have increased in compare to previous week.
• Acetone inventories at eastern China declined to 19,500 tonnes.
• Sinopec hikes east China acetone, offers as per market report.
• This week acetone prices have increased from end users as demand have improved and domestic material is available in limited quantity.
• This week crude oil prices have followed mixed trend.
• On Thursday oil prices have escalated OPEC members, Russia and nine other producers agreed to extend a deal to limit their production through 2018.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.40/bbl; prices have decreased by $0.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.46/bbl in compared to last trading and was assessed around $63.57/bbl.
• As per report, the producers will indeed review the deal at the next OPEC meeting in June. Some market were concerned that a nine-month extension could cause markets to quickly tighten, leading to undersupply that results in a price spike.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 880/mt and USD 885/mt respectively.

 $1 = Rs. 64.46
 Import Custom Ex. Rate USD/ INR: 66.20
 Export Custom Ex. Rate USD/ INR: 64.50