Acetone Weekly Report 15 Sep 2018

Weekly Price Trend: 10-09-2018 to 14-09-2018

 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.54/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 remained firm and at the end of the week prices were assessed at the level of Rs 54/kg for Kandla and Rs 54/kg Mumbai ports.
• This week in international market, prices of Acetone have increased in compare to previous week.
• Acetone inventories at shore tanks along eastern China have declined to 40,500 tonnes in the week ended 14 September.
• China's Huizhou Zhongxin restarts its phenol/acetone plant.
• China's Sinopec Mitsui restarts its phenol/acetone unit.
• Oil prices crossed the levels of USD80 by mid of the week, later it fell by more than 2% on Thursday. This hike was the highest in last four months. The international Energy Agency has already warned that the oil market is tightening at the moment and world oil demand would soon reach 100 million barrels per day (bpd) in the next three months, global economic risks were mounting.
• U.S. companies in China are being hurt by tariffs in the growing trade war between Washington and Beijing, according to a survey, prompting U.S. business lobbies to urge President Donald Trump's administration to reconsider its approach.
• The White House has invited Chinese officials to restart trade talks just as it prepares to escalate a trade war with China with tariffs on $200 billion worth of Chinese goods.
• Asian benzene market has been weakening as inventories in the key China market escalated.
• Benzene stocks in China increased to 166,100 tonnes, increase from 158,700 tonnes in late August.
• The ongoing trade war between the US and China, has been dampening sentiment in the Asian benzene market. There is no clear resolution expected in the near term for the trade spat between the world’s two biggest economies.
• East China benzene inventories rise to 167,900 tonnes.
• This week benzene prices have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 850/mt and USD 855/mt respectively.

 $1 = Rs. 71.84
 Import Custom Ex. Rate USD/ INR: 72.55
 Export Custom Ex. Rate USD/ INR: 70.85