Acetone Weekly Report 06 May 2017

Weekly Price Trend: 01-05-2017 to 05-05-2017
 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 decreased. By the end of the week prices of Acetone were assessed at the level of Rs.59.5/kg for Kandla and 59/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 59.5/kg for Kandla and Rs 59/kg Mumbai ports.
• This week in international market, prices of Acetone have decreased in compare to previous week.
• Recently Acetone market is moving with soft velocity no major deals has been heard.
• As per report, Cepsa Chemical Shanghai to restart phenol/acetone unit next week.
• This week oil prices have followed little volatility and at the end of the week prices sharply have plunged. On Thursday oil prices crashed to five-month lows as concerns about global oversupply wiped out all of the price gains since OPEC's move to cut output.
• Analysts agreed the steep price falls would likely force OPEC members to extend production cuts later this month, but the prospect of deeper cuts appeared slim. OPEC is scheduled to meet on May 25 to decide whether to extend the cuts.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $45.52/bbl, prices have decreased by $2.30/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $2.41/bbl in compared to last trading and was assessed around $48.38/bbl.
• As per market analyst the current rate of cuts, is sufficient to result in demand outstripping global output by 1 million barrels a day in the second half of 2017 as seasonal demand picks up. it is becoming apparent that the profit margins of many of the chemical majors could be improved quit as oil prices declining with pace rapid.
• East China shore tank benzene inventories continue to fall.
• Sinopec cuts east China benzene list price.
• Feedstock benzene prices have decreased this week with the weak buying sentiments.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 745/mt and USD755/mt respectively.

 $1 = Rs. 64.37
 Import Custom Ex. Rate USD/ INR: 65.10
 Export Custom Ex. Rate USD/ INR: 63.40