Acetone Weekly Report 12 Aug 2017

Weekly Price Trend: 07-08-2017 to 11-08-2017
  
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 weak trend. By the end of the week prices of Acetone were assessed at the level of Rs.55/kg for Kandla and 55/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 55/kg for Kandla and Rs 55/kg Mumbai ports.
• This week in international market, prices of Acetone also have plunged in compare to previous week.
• As per report, US June acetone imports more than double year on year basis.
• Asia acetone/phenol producers consider cuts in run rate.
• Presently Acetone market is moving with soft-to-stable velocity no major deals and discussion has been heard.
• This week crude oil prices have followed volatile trend and on Thursday market closed on weak note. Oil prices fell more than 1.5 percent on Thursday, to hit two-week lows, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories. On Thursday, closing crude values have decreased.WTI on NYME closed at $48.59/bbl, prices have decreased by $0.97/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.80/bbl in compared to last trading and was assessed around $51.90/bbl.
• Investors were also keeping a close eye on the broad market impact of tensions between the United States and North Korea. Recently Crude oil prices failed to hold recent gains, with a nervous market starting to doubt recent falls in inventories.
• As per report, OPEC is curbing output by about 1.2 million bpd, while Russia and other non-OPEC producers cut half as much, until March 2018.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 760/mt and USD775/mt respectively.

 $1 = Rs. 64.13
 Import Custom Ex. Rate USD/ INR: 64.55
 Export Custom Ex. Rate USD/ INR: 62.85