Acetone Weekly Report 06 Jan 2018
Weekly Price Trend: 01-01-2018 to 05-01-2018
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 decreased. By the end of the week prices of Acetone were assessed at the level of Rs.57/kg for Kandla and 57/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 decreased in compare to previous week and at the end of the week prices were assessed at the level of Rs 57/kg for Kandla and Rs 56/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 have fallen to 11,000 tonnes.
- China’s phenol, acetone combined output rises by 5% month on month in Dec.
- This week oil prices have remained little volatile but overall closed on higher note. On Thursday U.S. crude oil prices rise to the highest level in 2½ years as markets tightening amid tensions in Iran and due to ongoing OPEC-led production cuts.
- On Thursday, closing crude values have increased. WTI on NYME closed at $62.01/bbl; prices have increased by $0.38/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compared to last trading and was assessed around $68.07/bbl.
- As per market analyst, the market is getting more bullish on oil as inventory levels get closer to the five-year average. Geopolitical uncertainty in Iran, OPEC's third largest producer, is also helping to support the price as citizens are again protesting the government.
- Feedstock benzene prices have increased in Asian market this week.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 875/mt and USD 890/mt respectively.
$1 = Rs. 63.37
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.80
