Acetone Weekly Report 10 Feb 2018

Weekly Price Trend: 05-02-2018 to 09-02-2018

 
 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 plunged. By the end of the week prices of Acetone were assessed at the level of Rs.58/kg for Kandla and 58/kg for Mumbai ports of India.
Total Imports from January to December 2017

Above graph represents the total imported quantity of Acetone from January to December. As per graph in 2017 Total imported quantity was around 170925MT. In the month of July higher quantity has been imported while in February, imports were lesser.

Booking Scenario

• These prices are inclusive of anti dumping duty.

INDIA& INTERNATIONAL

• For the current week in domestic market acetone price have plunged and in compare to previous week and at the end of the week prices were assessed at the level of Rs 58/kg for Kandla and Rs 58/kg Mumbai ports.
• This week in international market, prices of Acetone have escalated in compare to previous week.
• In China domestic acetone prices may remain bearish amid lacklustre activity in the market ahead of the country’s week-long Lunar New Year holiday.
• As per report, some downstream players are running their plants at lower rate on government’s stringent environmental protection campaign, and poor sales, weighing down on acetone demand.
• Source said that operating rates acetone plants in the northern parts of China have plunged,a number of plants in the eastern part of the country are running at full capacity.
• Benzene inventory in east China declined on account of this prices have escalated.
• Benzene inventory levels in east China have augmented on account of more arrivals and lesser demand.
• Feedstock benzene prices have decreased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 895/mt and USD 910mt respectively.
• This week crude oil prices have followed weak trend. Oil prices fell sharply after the U.S. government reported crude stockpiles rose by 1.9 million barrels. The increasing U.S. oil production and crude stockpiles, and stock market sell-off, piled pressure on oil prices this week. A stronger dollar has also been a prevailing factor the decline. But the supply dynamics are working against a sustained price rally.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $61.15/bbl; prices have decreased by $0.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.70/bbl in compared to last trading and was assessed around $64.81/bbl.

 $1 = Rs. 64.40
 Import Custom Ex. Rate USD/ INR: 64.50
 Export Custom Ex. Rate USD/ INR: 62.85