Acetone Weekly Report 06 Oct 2018

Weekly Price Trend: 01-10-2018 to 05-10-2018

 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 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 remained firm in compare to previous week.
• This week Acetone prices have remained firm on account of firm buying sentiments from China market.
  There has been heavy fluctuation in crude prices in this week. As the month of November is approaching fast the heat of sanction felt in the crude values across the world.
• On Thursday crude prices plunged due to rise in the inventory levels in US. But this hike was again pulled back on Thursday. Saudi Arabia and Russia has stated they will increase the crude supply but could not fill the void created by disruption of supply from Iran.
• With short supply from the price for crude is likely to reach a mark of $90 to $100 per barrel. On Wednesday, Saudi Energy Minister Khalid al-Falih said the kingdom was pumping near record levels and would raise output in November. Saudi Arabia is one of the few countries with the ability to significantly raise output. Many experts believe that the spar capacity of specified by Saudi is merely a statement but does exist in reality.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $74.33/bbl. Prices have decreased by $2.08/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.71/bbl in compare to last closing price and was assessed around $84.58/bbl.
• This week Asian benzene prices up on firm crude,  ample supply to cap further gains.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 875/mt and USD 880/mt respectively.

 $1 = Rs. 73.78
 Import Custom Ex. Rate USD/ INR: 74.60
 Export Custom Ex. Rate USD/ INR: 72.90