Acetone Weekly Report 20 Jan 2018

Weekly Price Trend: 15-01-2018 to 19-01-2018

 
 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 volatile. By the end of the week prices of Acetone were assessed at the level of Rs.56/kg for Kandla and 55/kg for Mumbai ports of India.

Total import at various ports of India December, 2017

Above graph represents the imported quantity of Acetone for the month of December, 2017. Last month total imported quantity was around 13356MT.

Booking Scenario

• These prices are inclusive of anti dumping duty.

INDIA& INTERNATIONAL

• For the current week in domestic market acetone price have remained volatile and in compare to previous week and at the end of the week prices were assessed at the level of Rs 56/kg for Kandla and Rs 55/kg Mumbai ports.
• This week in international market, prices of Acetone also have decreased in compare to previous week.
• Major Chinese producer Sinopec cut its domestic offers for acetone in east China as Eastern China acetone inventories up at 12,500 tonnes.
• US January barge acetone contacts initially settle 4.0% higher.
• Oil prices have followed volatile trend this week. On Thursday Oil rebounded after slipping below $69 a barrel, supported by a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub, despite concerns that OPEC-led output cuts will increase supply from the United States.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $63.95/bbl; prices have decreased by $0.02/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 $69.31/bbl.
• As per report, the upside is now limited for oil prices. U.S. oil producers will ramp up production in the coming months. Some traders said that prices were unlikely to fall far due to the OPEC-led curbs and the risk of further disruptions.
• Benzene inventory in east China declined on account of this prices have escalated.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 945/mt and USD 940/mt respectively.

 $1 = Rs. 63.85
 Import Custom Ex. Rate USD/ INR: 64.80
 Export Custom Ex. Rate USD/ INR: 63.10