Acetone Weekly Report 13 May 2017

Weekly Price Trend: 08-05-2017 to 12-05-2017

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 remained soft-to-stable. By the end of the week prices of Acetone were assessed at the level of Rs.58/kg for Kandla and 58/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 re in compare to previous week and at the end of the week prices were assessed at the level of Rs 59.5/kg for Kandla and Rs 59/kg Mumbai ports.
• This week in international market, prices of Acetone have remained soft-to-stable in compare to previous week.
• Recently Acetone market is moving with weak no major deals has been heard.
• As per report, market is moving with tight velocity and material is also available in limited quantity.
• CEPSA China runs its aceteone plant at 60-70% after restart.
• South Korea’s Kumho maintains acetone plant at below 40%.
• This week oil prices have followed up inclination with minute plunge. Last week U.S. crude stockpiles posted their biggest drawdown since December as imports dropped sharply, while inventories of refined products also fell, helping boost oil prices that have been weighed down by concerns about oversupply.
• On Wednesday oil prices began looking higher after a string of positive data on oil stocks in the US helped to improve the market mood.
• As per report, a bigger than expected drop in oil and fuel stocks received the initial bullish attention. Adding to the positive tone was the reduction in imports.
• According to report a large part of the excess supply overhang contained in floating storage facilities has been reduced and the improvement in the world economy will help support oil demand too.
• Feedstock benzene prices have decreased this week with the weak buying sentiments.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 720/mt and USD735/mt respectively.

 $1 = Rs. 64.30
 Import Custom Ex. Rate USD/ INR: 65.10
 Export Custom Ex. Rate USD/ INR: 63.40