Acetone Weekly Report 15 April 2017

Weekly Price Trend: 10-04-2017 to 14-04-2017
 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 increased. By the end of the week prices of Acetone were assessed at the level of Rs.69/kg for Kandla and 69/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 increased in compare to previous week and at the end of the week prices were assessed at the level of Rs 69/kg for Kandla and Rs 69/kg Mumbai ports.
• This week in international market, prices of Acetone have increased in compare to previous week.
• Presently acetone demand in market like china is growing and in near term acetone prices will go up said by market players.
• Tight supply continues to direct European acetone spot pricing.
• This week oil prices oil prices have followed little volatility but overall it was strong week for crude. On Thursday that supply and demand in the global oil market were close to matching after a fall in stockpiles in developed countries in March.
• As per report, the market has been oversupplied for three years, prompting members of the OPEC and some non-OPEC producers to agree to cut output in the first six months of 2017 to rein in the glut. OPEC meets on May 25 to consider extending the cuts beyond June.
• U.S. production to continue rising, both onshore and offshore, which will act as a headwind for the market.
• As per market analyst, refinery runs are picking up, and driving season is around the corner, so inventories will start going down soon. Amid so much uncertainty, the only thing that is certain is that crude oil production is growing, and there are no signs that this will change while the going is good and prices stay above $50 a barrel.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.18/bbl, prices have increased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $55.89/bbl.
• Feedstock benzene prices have increased this week with the improved buying activity..
• FOB Korea and CFR China prices of Benzene were evaluated at USD 850/mt and USD 855/mt respectively.

 $1 = Rs. 64.41
 Import Custom Ex. Rate USD/ INR: 65.90
 Export Custom Ex. Rate USD/ INR: 64.20