Acetone Weekly Report 04 March 2017

Weekly Price Trend: 27-02-2017 to 03-03-2017
 
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 firm. By the end of the week prices of Acetone were assessed at the level of Rs.73/kg for Kandla and 73/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 in compare to previous week and at the end of the week prices were assessed at the level of Rs 73/kg for Kandla and Rs 73/kg Mumbai ports.
• This week in international market, prices of Acetone have increased in compare to previous week.
• As per market report this week domestic Acetone market is moving with firm velocity no major deals and discussion has been heard.
•  International acetone market prices have increased with the less availability of material, market players have said that.
• Oil prices have followed fluctuating trend during the week. Oil prices headed lower on Thursday to log their lowest finish in about three weeks, as U.S. government data showed that domestic crude inventories hit a record and production edged higher last week. As per market source the high crude stockpile levels in the U.S. is the number one reason behind oil’s recent inability to climb. On Friday oil prices jump as he United States imposed sanctions on some Iranian individuals and entities.
• The increasing U.S. crude output in recent months has largely offset the continuing production cuts by the OPEC and Russia are keeping prices in a slim range, said by analysts.
• Market predictors anticipating that the respite to continue for more weeks with the next major price mover likely to be OPEC’s meeting at the end of May in which members will decide whether to extend the cuts beyond the initial six-month period.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $52.61/bbl, prices have decreased by $1.22/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.28/bbl in compared to last trading and was assessed around $55.08/bbl.
• Feedstock benzene prices have decreased this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 915/mt and USD 950/mt respectively.

 $1 = Rs. 66.81
 Import Custom Ex. Rate USD/ INR: 67.65
 Export Custom Ex. Rate USD/ INR: 66.00