Acetone Weekly Report 05 May 2018

Weekly Price Trend: 30-04-2018 to 04-05-2018

 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.60/kg for Kandla and 60/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 and at the end of the week prices were assessed at the level of Rs 60/kg for Kandla and Rs 60/kg Mumbai ports.
• This week in international market, prices of Acetone have increased in compare to previous week.
• Acetone inventories in eastern China have declined to 16,000 tonnes.
• As per report, China's Lihuayi Weiyuan restarts its phenol/acetone plant.
• China's Yangzhou Shiyou to shut its phenol/acetone plant.
• This week crude oil prices have fluctuated. On Thursday, prices boosted by OPEC production cuts and the potential for new U.S. sanctions against Iran, but gains were limited by growing U.S. crude inventories.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.43/bbl; prices have increased by $0.50/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.26/bbl in compared to last trading and was assessed around $73.62/bbl.
• As per report, U.S. oil production also rose to a record of 10.62 million barrels per day (bpd), a jump of more than a quarter since mid-2016. Looming over markets is the May 12 deadline by when President Donald Trump is due to decide whether or not to continue waiving U.S. sanctions against Iran.
• This week Feedstock Benzene prices in east China fluctuated in lower range due to China's May Day holiday.
• Benzene inventories at shore tanks along eastern China continue to rise.
• This week benzene prices have plunged.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 835/mt and USD 845/mt respectively.

 $1 = Rs. 66.86
 Import Custom Ex. Rate USD/ INR: 67.50
 Export Custom Ex. Rate USD/ INR: 65.80