Acetone Weekly Report 10 March 2018

Weekly Price Trend: 05-03-2018 to 09-03-2018

 
 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 decreased. By the end of the week prices of Acetone were assessed at the level of Rs.60/kg for Kandla and 60/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 plunged and in compare to previous week and at the end of the week prices were assessed at the level of Rs 60/kg for Kandla and Rs 60/kg Mumbai ports.
• This week in international market, prices of Acetone have decreased in compare to previous week.
• Presently Acetone demand sentiments have been bearish post Chinese holiday on account of this prices have plunged.
• Major Chinese producer Sinopec decreased its domestic offers for acetone in east China.
• China's FCFC Ningbo shuts phenol/acetone plant for maintenance.
• This week oil prices have remained volatile. On Thursday oil prices fell headed for a second straight weekly drop on a stronger dollar, signs of an inventory build at the U.S. storage hub in Cushing, Oklahoma, surging U.S. crude production and investor jitters about a potential trade war.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $60.12/bbl; prices have decreased by $1.03/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.73/bbl in compared to last trading and was assessed around $63.61/bbl.
• Feedstock benzene prices in east China plunge due to weak market sentiment.
• Feedstock benzene prices have decreased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 860/mt and USD 860/mt respectively.

 $1 = Rs. 65.16
 Import Custom Ex. Rate USD/ INR: 66.10
 Export Custom Ex. Rate USD/ INR: 64.40