Acetone Weekly Report 18 March 2017

Weekly Price Trend: 13-03-2017 to 17-03-2017

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 plunged. By the end of the week prices of Acetone were assessed at the level of Rs.66/kg for Kandla and 66/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 66/kg for Kandla and Rs 66/kg Mumbai ports.
• This week in international market, prices of Acetone have remained firm in compare to previous week.
• As per market report this week domestic Acetone market is moving with weak velocity no major deals and discussion has been heard.
• As per market report with the plunge in feedstock prices Acetone prices also decreased.
• Presently market is moving with soft velocity no major deals and discussion has been heard.
• This week oil prices have followed mixed trend. On Thursday oil prices have plunged after a big increase as rising output from the U.S. remained a threat to efforts by other major producers to rebalance the market. Oil prices continued to find some support Wednesday prices showing the drop in U.S. crude supply in, as well as weaker dollar in the wake of the Federal Reserve’s less-hawkish-than-expected rate announcement.
• As per report, Global oil inventories rose for the first time in six months in January, despite the OPEC agreement. Iraq is planning to boost output later in the year even as the OPEC member reaffirmed its commitment to the group’s decision to cut production to counter a global glut.
• Some market players have said t hat in near term crude oil prices to trade positive on the back of surprise drawdown in U.S. crude inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.75/bbl, prices have decreased by $0.11/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.07/bbl in compared to last trading and was assessed around $51.74/bbl.
• Feedstock benzene prices have decreased this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 800/mt and USD 810/mt respectively.

 $1 = Rs. 65.46
 Import Custom Ex. Rate USD/ INR: 66.20
 Export Custom Ex. Rate USD/ INR: 64.50