Acetone Weekly Report 12 May 2018

Weekly Price Trend: 07-05-2018 to 11-05-2018

 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 remained firm. 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 remained firm 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 also have remained firm in compare to previous week.
• Sinopec cuts east China acetone offer by CNY250/tonne.
• East China acetone inventories increase to 28,000 tonnes.
• US President Donald Trump’s decision to pull out of the 2015 nuclear deal with Iran will have a lot of consequences for the global chemical industry, as well as for Iran’s domestic sector.
• This week with the little volatility oil prices have escalated sharply. On Thursday as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $69.06/bbl; prices have decreased by $1.67/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.32/bbl in compared to last trading and was assessed around $74.85/bbl.
• The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies, after dump an agreement reached in late 2015 which limited Tehran's nuclear ambitions in exchange for removing U.S.-Europe sanctions.
• This week Feedstock Benzene prices in east China rose due to profit gains in downstream sectors.
• Benzene inventories along eastern China slightly higher.
• This week benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 875/mt and USD 855/mt respectively.

 $1 = Rs. 67.33
 Import Custom Ex. Rate USD/ INR: 67.50
 Export Custom Ex. Rate USD/ INR: 65.80