Acetone Weekly Report 19 May 2018

Weekly Price Trend: 14-05-2018 to 18-05-2018

 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 plunged. By the end of the week prices of Acetone were assessed at the level of Rs.60/kg for Kandla and 59.5/kg for Mumbai ports of India.

Total import at various ports of India April, 2018

Above graph represents the imported quantity of Acetone for the month of April, 2018. Last month total imported quantity was around 18220mt.

 Booking Scenario

• These prices are inclusive of anti dumping duty.

INDIA& INTERNATIONAL    

• For the current week in domestic market acetone price have plunged and at the end of the week prices were assessed at the level of Rs 60/kg for Kandla and Rs 59.5/kg Mumbai ports.
• This week in international market, prices of Acetone have escalated in compare to previous week.
• In US market Acetone material is available in ample quantity.
• As per report, Acetone supply is anticipated to be mixed with healthy inventories in the US causing greater flow of cargoes heading to Asia. while ongoing scheduled turnarounds in the region are expected to tighten supply in Asia.
• Acetone demand in the second quarter is expected to be stable-to-soft as in China some downstream units undergoing maintenance.
• This week with the sharp increase in energy values Acetone prices also have escalated as feedstock prices increased.
• This week crude oil prices escalated. Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall because of renewed U.S. sanctions, reducing supply in an already tightening market.
• On Thursday, closing crude values have increased. WTI on NYME closed at $71.49/bbl; prices have increased remained firm in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $79.30/bbl.
• As per market report, The potential loss of 1 million barrels of Iranian crude from the world market and the ongoing decline of Venezuela's oil sector could push oil prices beyond $100/b. Global inventories of crude oil and refined products dropped sharply in recent months owing to robust demand and OPEC-led production cuts.
• Benzene inventories at shore tanks along eastern China increased.
• This week benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 880/mt and USD 880/mt respectively.

 $1 = Rs. 68.00
 Import Custom Ex. Rate USD/ INR: 68.65
 Export Custom Ex. Rate USD/ INR: 66.95