Acetone Weekly Report 03 Feb 2018

Weekly Price Trend: 29-01-2018 to 02-02-2018

 
 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.58.5/kg for Kandla and 58.5/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 remained firm and in compare to previous week and at the end of the week prices were assessed at the level of Rs 58.5/kg for Kandla and Rs 58.5/kg Mumbai ports.
• This week in international market, prices of Acetone also have remained firm in compare to previous week.
• Acetone inventories at shore tanks along eastern China decreased slightly to 19,000 tonnes in the week ended 2 February.
• Sinopec cuts north, east China acetone offers.
• China's Huizhou Zhongxin restarts phenol/acetone plant.
• Benzene inventory levels in east China has fallen to 132,500 tonnes.
• This week oil prices have followed volatile trend. Goldman Sachs on Thursday raised its 2018 oil price forecasts, projecting that Brent crude will soon top $80, fueled by blockbuster oil demand, a deal among big producers to limit output and U.S. drillers' inability to meet the world's growing energy appetite.
• On Thursday, closing crude values have increased. WTI on NYME closed at $65.80/bbl; prices have increased by $1.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $69.08/bbl.
• Benzene inventory in east China declined on account of this prices have escalated.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 930/mt and USD 945mt respectively.

 $1 = Rs. 64.06
 Import Custom Ex. Rate USD/ INR: 64.50
 Export Custom Ex. Rate USD/ INR: 62.85