Acetone Weekly Report 11 March 2017

Weekly Price Trend: 06-03-2017 to 10-03-2017

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 plunged. By the end of the week prices of Acetone were assessed at the level of Rs.70/kg for Kandla and 70/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 in compare to previous week and at the end of the week prices were assessed at the level of Rs 70/kg for Kandla and Rs 70/kg Mumbai ports.
• This week in international market, prices of Acetone have remained firm in compare to previous week.
• As per market report this week domestic Acetone market is moving with weak velocity no major deals and discussion has been heard.
•  On account of continued dull buying sentiments acetone prices have plunged in domestic market.
• This week oil prices have tumbled. In five days duration US oil prices have plunged around 7.5% while Brent oil have decreased 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
• As per report, declining oil prices have helped U.S. and global energy companies get back into the investing but analyst said that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.
• Market players anticipate that OECD oil stocks to decline significantly this year helped by the large OPEC cuts and robust global demand growth, to consider the recent drop in crude oil prices to be a good opportunity to enter into bullish option structures.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $49.28/bbl, prices have decreased by $1.00/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.92/bbl in compared to last trading and was assessed around $52.19/bbl.
• Feedstock benzene prices have decreased this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 860/mt and USD 870/mt respectively.

 $1 = Rs. 66.60
 Import Custom Ex. Rate USD/ INR: 67.65
 Export Custom Ex. Rate USD/ INR: 66.00