Acetone Weekly Report 2 June 2018

Weekly Price Trend: 28-05-2018 to 01-06-2018

 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.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 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 plunged in compare to previous week.
• This week Acetone market have remained soft-to-stable no major trade deals has been heard.
• This week Acetone inventories in eastern China were same week on week at 22,000 tonnes.
• This week Monument Chemical based in US declared force majeure on acetate production.
• This week oil prices have remained mixed. On Thursday U.S. crude prices sank after a brief rally in the previous session, but as per analysis the recent slump in oil prices won't last much longer.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $67.04/bbl; prices have decreased by $1.17/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $0.09/bbl in compared to last trading and was assessed around $77.59/bbl.
• Oil prices were already heading lower on recent reports that OPEC, Russia and several other producer nations could soon begin winding down their 17-month-old deal to cap output. That agreement has drained a global glut of oil and helped balance the market, but it's now under review due to falling Venezuelan output and renewed U.S. sanctions against Iran.
• This week East China benzene inventories plunged.
• This week benzene prices have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 855/mt and USD 850/mt respectively.

 $1 = Rs. 67.05
 Import Custom Ex. Rate USD/ INR: 68.65
 Export Custom Ex. Rate USD/ INR: 66.95