Acetone Weekly Report 08 Sep 2018

Weekly Price Trend: 03-09-2018 to 07-09-2018

 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 fluctuated. By the end of the week prices of Acetone were assessed at the level of Rs.54/kg for Kandla and 54/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 fluctuated and at the end of the week prices were assessed at the level of Rs 54/kg for Kandla and Rs 54/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 bearish demand sentiments from end users.
• As per report, Eastern China acetone inventories increase by 2.4% to 43,000 tonnes while demand have remained firm.
• There has been continuous soaring in crude prices in this week. The US inventories have fell to their lowest levels since February 2015.  US West Texas Intermediate (WTI) crude futures were at $67.90 per barrel at 0056 GMT, up 13 cents, or 0.2 per cent, from their last settlement.  International Brent crude futures climbed 12 cents, or 0.2 per cent, to $76.62 a barrel. With release of Oil inventory data last night, a large number has been drawn from crude inventories.
• Global oil markets have tightened over the last month, pushing up Brent prices by more than 10 per cent since the middle of August. Investors anticipate less supply from Iran as US sanctions on Tehran begin to bite.

With ship-tracking data now pointing at a reduction in Iranian exports, renewed strife in Libya, and Venezuelan export availability hobbled by an accident at the key Jose terminal, the list of bullish headlines is getting longer,” said Michael Dei-Michei, head of research at Vienna consultancy JBC Energy.

• This week East China feedstock benzene inventories rise by 4.7%.
• This week benzene prices have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 870/mt and USD 880/mt respectively.

 $1 = Rs. 71.73
 Import Custom Ex. Rate USD/ INR: 71.10
 Export Custom Ex. Rate USD/ INR: 69.40