Acetone Weekly Report 17 June 2017

Weekly Price Trend: 12-06-2017 to 16-06-2017

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.59/kg for Kandla and 59/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 in compare to previous week and at the end of the week prices were assessed at the level of Rs 59/kg for Kandla and Rs 59/kg Mumbai ports.
• This week in international market, prices of Acetone have remained firm in compare to previous week.
• Recently Acetone market is moving with soft-to-weak velocity no major deals has been heard.
• S Arabia’s Petro Rabigh is expected to achieve on-spec production at its new phenol/acetone plant in July.
• US June barge acetone likely to fall slightly on RGP.
• This week oil prices have followed volatile trend and on Thursday oil market has closed on downward note. This week the global oil market have remained awash in surplus oil, rising U.S. crude production and weak domestic gasoline demand kept pressure on prices.
• As per report, the outlook for the energy market will remain bearish. OPEC’s agreement with non-OPEC members “remains brittle as none of those participating are happy about the arrangement. In the U.S., the trend of rising production remains strong while gasoline demand has been soft so oil production is expected to continue to rise steadily this summer. High exports and production from other countries, including Russia and the United States, are also contributing to the ongoing glut.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $44.46/bbl, prices have decreased by $0.27/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $46.92/bbl.
• This week Benzene prices have increased in Asian market.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 765/mt and USD785/mt respectively.

 $1 = Rs. 64.42
 Import Custom Ex. Rate USD/ INR: 65.15
 Export Custom Ex. Rate USD/ INR: 63.50