Acetone Weekly Report 11 Feb 2017

Weekly Price Trend: 06-02-2017 to 10-02-2017
 

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 decreased in compare to previous week. By the end of the week prices of Acetone were assessed at the level of Rs.71.5/kg for Kandla and 72/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 decreased in compare to previous week and at the end of the week prices were assessed at the level of Rs 71.5/kg for Kandla and Rs 72/kg Mumbai ports.
• This week the prices of Acetone in international market have increasedin compares to last week.
• Presently market is moving with up velocity as per market players demand sentiments has been improving.
• Some market players have said that with the increase in oil prices Acetone prices also have increased.
• South Korean producer Kumho P&B has had to shut down its two operational phenol/acetone units because of a mechanical problem that occurred.
• Crude oil prices have followed fluctuation through the week and at end of the week prices have increased after an unexpected draw in U.S. gasoline inventories pointed to higher demand in the world's biggest oil market.
• As per report U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
• The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
• Market Analysts said that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.00/bbl, prices have increased by $0.66/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.51/bbl in compared to last trading and was assessed around $55.63/bbl.
• Feedstock benzene prices have increased this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 1030/mt and USD 1045/mt respectively.

 $1 = Rs. 66.88
 Import Custom Ex. Rate USD/ INR: 68.40
 Export Custom Ex. Rate USD/ INR: 66.70