Acetone Weekly Report 08 July 2017

Weekly Price Trend: 03-07-2017 to 07-07-2017

  
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 followed firm trend. By the end of the week prices of Acetone were assessed at the level of Rs.61/kg for Kandla and 61/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 61/kg for Kandla and Rs 61/kg Mumbai ports.
• This week in international market, prices of Acetone have remained firm in compare to previous week.
• Japan’s Mitsui Chemicals plans to shut its Chiba phenol/acetone plant in October and plant is currently running its 100 percent capacity.
• Presently Acetone market is moving with soft velocity no major deals has been heard.
• S Korea's Kumho P&B plans Q4 turnaround at phenol/acetone units.
• Thailand's PTT Phenol raises ops at new phenol/acetone unit.
• This week oil prices have followed volatile inclination. On Thursday oil prices closed on slightly up note  after a sharp but short-lived boost from a much bigger-than-expected decline in U.S. inventories of crude oil and gasoline. WTI on NYME closed at $45.52/bbl, prices have increased by $0.39/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.32/bbl in compared to last trading and was assessed around $48.11/bbl. Market players said the surge was driven by traders closing out short positions, or bets that oil prices would fall.
• There's a lot of bearishness out there now the market is still believing supplies are not going to be in balance globally. Investors believe the OPEC will need to make further output cuts to offset thriving shale production in the United States.
• U.S. gasoline stocks dropped 3.7 million barrels in the most recent week, far exceeding the expected drop of 1.1 million barrels. Still, gasoline inventories remain about 6 percent above seasonal averages, so investors will watch for July data to see if demand is strong enough to whittle down stocks.
• Benzene inventories along eastern China rise to 108,500 tonnes.
• China's benzene imports fall by 29.4% month on month in May
• FOB Korea and CFR China prices of Benzene were evaluated at USD 725/mt and USD740/mt respectively.

 $1 = Rs. 64.59
 Import Custom Ex. Rate USD/ INR: 65.65

 Export Custom Ex. Rate USD/ INR: 63.95