Acetone Weekly Report 20 Oct 2018

Weekly Price Trend: 15-10-2018 to 19-10-2018

 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 same. By the end of the week prices of Acetone were assessed at the level of Rs.52/kg for Kandla and 53/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 same and at the end of the week prices were assessed at the level of Rs 52/kg for Kandla and Rs 53/kg Mumbai ports.
• This week in international market, prices of Acetone have increased in compare to previous week.
• There has been significant decline in crude prices in last two weeks. Prices plunged by more than 11 % in last two weeks. Oil prices rose to nearly four-year highs at the start of October as there has been depletion in crude supply sue to US sanctions on Iran.
•  Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
• The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
• The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $68.65/bbl. Prices have decreased by $1.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.76/bbl in compare to last closing price and was assessed around $79.29/bbl.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 835/mt and USD 848/mt respectively.

 $1 = Rs. 73.32
 Import Custom Ex. Rate USD/ INR: 74.30
 Export Custom Ex. Rate USD/ INR: 72.60