Acetone Weekly Report 09 Sep 2017

Weekly Price Trend: 04-09-2017 to 08-09-2017

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 up trend. By the end of the week prices of Acetone were assessed at the level of Rs.55/kg for Kandla and 55/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 in compare to previous week and at the end of the week prices were assessed at the level of Rs 55/kg for Kandla and Rs 55/kg Mumbai ports.
• This week in international market, prices of Acetone have increased in compare to previous week.
• United States has the highest production capacity of Acetone followed by China and Taiwan. Presently on account of tropical storm in US shortage of material has taken place which has resulted hover in prices
• Presently healthy demand has created the situation of higher prices of all the chemicals. But this will remain for short span of time, as per market players.
• US Olin shuts down its Texas based phenol/acetone plant.
• This week oil prices have followed mixed trend. Oil futures eased on Thursday on a slightly bigger-than expected U.S. crude inventory build as the restart of U.S. refiners after Hurricane Harvey was being countered by the threat of Hurricane Irma.
• On Thursday, closing crude values have remained mixed.WTI on NYME closed at $49.09/bbl, prices have decreased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.29/bbl in compared to last trading and was assessed around $54.49/bbl. As per market players supplies of crude remained sufficient to meet demand.
• Feedstock benzene prices have increased in Asian market.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 805/mt and USD 820/mt respectively.

 $1 = Rs. 63.78
 Import Custom Ex. Rate USD/ INR: 64.90
 Export Custom Ex. Rate USD/ INR: 63.25