Acetone Weekly Report 04 August 2018

Weekly Price Trend: 30-07-2018 to 03-08-2018

 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 increased. By the end of the week prices of Acetone were assessed at the level of Rs.52/kg for Kandla and 52/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 little and at the end of the week prices were assessed at the level of Rs 52/kg for Kandla and Rs 52/kg Mumbai ports.
• This week in international market, prices of Acetone have plunged in compare to previous week.
• China’s spot acetone import prices rose for the second week.
• China's Huizhou Zhongxin shuts its phenol/acetone plant.
• As per report, East China acetone inventories fall by 9% to 35,500 tonnes.
• As per report, presently market is moving with soft velocity on account of this price have plunged.
• This week oil prices have followed mixed trend. On Thursday oil prices traded slightly higher, reversing course after a report that crude stockpiles at the U.S. storage hub at Cushing, Oklahoma fell in the latest week.U.S. stockpiles have been in the spotlight because they rose unexpectedly last week, stoking fears that the market is becoming oversupplied.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.96/bbl. Prices have increased by $1.30/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.06/bbl in compare to last closing price and was assessed around $73.45/bbl.
• This week benzene prices have increased.
• East China benzene inventories drop to 201,100 tonnes.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 870/mt and USD 875/mt respectively.

 $1 = Rs. 68.60
 Import Custom Ex. Rate USD/ INR: 69.25
 Export Custom Ex. Rate USD/ INR: 67.55