Acetone Weekly Report 10 June 2017

Weekly Price Trend: 05-06-2017 to 09-06-2017

  
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.59/kg for Kandla and 59/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 59/kg for Kandla and Rs 59/kg Mumbai ports.
• This week in international market, prices of Acetone have remained firm in compare to previous week.
• Recently Acetone market is moving with soft-to-weak velocity no major deals has been heard.
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• This week crude oil prices followed volatile trend with downward velocity. On Thursday oil prices fell due to an unexpected surge in U.S. inventories from signs of rising output in Libya and Nigeria to the crude market, as two OPEC members exempt from production cuts.
• WTI on NYME closed at $45.64/bbl, prices have decreased by $0.08/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.20/bbl in compared to last trading and was assessed around $47.86/bbl. On Friday oil prices stabilized due to steep falls earlier this week, but still pressured by evidence of an ongoing fuel glut despite efforts led by OPEC to tighten the market by holding back production. Asian markets are also oversupplied, with traders continuing to put excess crude into floating storage, a key indicator for a glut.
• Market analyst have said that oil market is anticipated to be bullish for the second half of this year, based on supply and demand balances and the rebalancing is also going to start in the second half. But if Nigerian and Libyan production is picking up as well as they are now, then slowly things will be different.
• Benzene prices have decreased in Asian market on account of decrease in the prices of downstream SM with weak buying sentiments.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 740/mt and USD760/mt respectively.

 $1 = Rs. 64.24
 Import Custom Ex. Rate USD/ INR: 65.35
 Export Custom Ex. Rate USD/ INR: 63.70