Acetone Weekly Report 15 July 2017

Weekly Price Trend: 10-07-2017 to 14-07-2017
 
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 firm trend. 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 plunged in compare to previous week and at the end of the week prices were assessed at the level of Rs 58/kg for Kandla and Rs 58/kg Mumbai ports.
• This week in international market, prices of Acetone also have plunged in compare to previous week.
• This week Acetone prices have decreased on account of weak sentiments from end users.
• US July barge acetone contract expected up slightly or flat.
• This week Crude oil prices have followed up inclination as Saudi Arabia is going to cut exports of crude oil to the United States, but this is going to be a short-term effect on the market as the United States becomes much more energy independent.
• On Thursday, closing crude values have increased.WTI on NYME closed at $46.08/bbl, prices have increased by $0.59/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.68/bbl in compared to last trading and was assessed around $48.42/bbl.
• As per market source, the oil market could stay oversupplied for longer than expected due to rising production and limited output cuts by some OPEC exporters. Rising consumption in Germany and the United States was helping boost oil demand. OPEC said its production rose by 393,000 barrels per day in June to 32.611 million bpd.
• Europe benzene slightly down, market stable and well-supplied.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 725/mt and USD745/mt respectively.

 $1 = Rs. 64.45
 Import Custom Ex. Rate USD/ INR: 65.65
 Export Custom Ex. Rate USD/ INR: 63.95