Acetone Weekly Report 20 May 2017

Weekly Price Trend: 15-05-2017 to 19-05-2017
 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 remained soft-to-stable. By the end of the week prices of Acetone were assessed at the level of Rs.58/kg for Kandla and 58/kg for Mumbai ports of India.

Total import at various ports of India April, 2017

Above chart represent the imported quantity of Acetone for the month of April, 2017. Last month total imported quantity was assessed 10759mt. As per chart at Kandla port higher quantity has been imported while at Vizac port imports were lesser.

Booking Scenario

• These prices are inclusive of anti dumping duty.

INDIA& INTERNATIONAL    

• For the current week in domestic market acetone price have remained soft-to-stable in compare to previous week and at the end of the week prices were assessed at the level of Rs 58/kg for Kandla and Rs 58/kg Mumbai ports.
• This week in international market, prices of Acetone have plunged in compare to previous week.
• Recently Acetone market is moving with soft-to-stable velocity no major deals has been heard.
• This week overall crude oil prices have plunged with little volatility. Recent announcements by Russia and Saudi Arabia have helped oil prices to recover and several analysts have highlighted the energy sector as a potential play for investors.
• As per recent report, Russia and Saudi Arabia announced earlier in the week that the supply cut should be extended for another nine months, into March 2018. Members of OPEC will meet next week to discuss extending the supply cut.
• Some market analyst predict that Russia and other major producers could help drive oil prices back to $60 per barrel or more with a new production deal, but that would also be a green light for U.S. shale drillers, said by source. Many analysts expect to see $60 oil by the end of the year, but the gains are not expected to spike much higher.
• On Thursday, closing crude values have increased.WTI on NYME closed at $49.35/bbl, prices have increased by $0.28/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.30/bbl in compared to last trading and was assessed around $52.51/bbl.
• This week upstream benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 760/mt and USD775/mt respectively.

 $1 = Rs. 64.64
 Import Custom Ex. Rate USD/ INR: 65.30
 Export Custom Ex. Rate USD/ INR: 63.60