Acetone Weekly Report 14 July 2018

Weekly Price Trend: 09-07-2018 to 13-07-2018

 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 plunged. By the end of the week prices of Acetone were assessed at the level of Rs.54.5/kg for Kandla and 54/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 and at the end of the week prices were assessed at the level of Rs 54.5/kg for Kandla and Rs 54/kg Mumbai ports.
• This week in international market, prices of Acetone have plunged in compare to previous week.
• China's Bluestar Harbin plans to shut its phenol/acetone plant.
• East China acetone inventories increase by 38,000 tonnes.
• In the latest round of tariffs imposed by US on China will include many petrochemical products. The list of $200 billion in Chinese goods disclosed this week would be subject to a 10% tariff if implemented amid growing trade tensions between the US and China. Last Friday, the US implemented $34 billion in tariffs on Chinese goods, and China retaliated with the same value of taxes on US imports, largely agricultural crops and automobiles. The $200 billion list includes ethylene, propylene, butadiene, chlorine and caustic soda, benzene, xylene, toluene and ethylene glycol.
• This week crude oil prices have followed mixed trend. On Thursday  oil prices steadied, after the International Energy Agency's warned that the world's oil supply cushion "might be stretched to the limit" due to production losses in several different countries.
• Brent prices rallied on Thursday, recouping some ground following sharp losses the previous session after Libya said it would resume oil exports. Brent crude oil gained 59 cents a barrel to trade at $74/bbl. On Wednesday, the global benchmark slumped $5.46, its biggest one-day fall in two years.   
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $70.33/bbl; prices have decreased by $0.05/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.05/bbl in compare to last closing price and was assessed around $74.45/bbl.
• This week benzene prices have remained firm.
• East China benzene prices increases on rising list price and robust demand.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 830/mt and USD 835/mt respectively.

 $1 = Rs. 68.52
 Import Custom Ex. Rate USD/ INR: 69.70
 Export Custom Ex. Rate USD/ INR: 68.00