Acetone Weekly Report 21 July 2018

Weekly Price Trend: 16-07-2018 to 20-07-2018

 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.53/kg for Kandla and 53/kg for Mumbai ports of India.

Total import at various ports of India June, 2018

Above graph represents the total imported quantity of Acetone for the month of June 2018. As per graph last month total imports was around 18971MT. Last month at Bombay imports were higher while at Hazira 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 plunged and at the end of the week prices were assessed at the level of Rs 53/kg for Kandla and Rs 53/kg Mumbai ports.
• This week in international market, prices of Acetone have plunged in compare to previous week.
• China's Bluestar Harbin petrochemical shut its phenol/acetone plant. It is placed at Harbin, Heilongjiang.
• East China acetone inventories fall by 9.74% to 34,300 tonnes.
• This week Acetone prices have plunged as market is moving with soft velocity no major deals has been heard.
• This week oil prices have followed mixed trend. On Thursday, Brent crude fell as concerns about mounting supply returned after a brief rally on comments that Saudi Arabia's exports would fall in August. Crude also strengthened on forecasts that inventories at the U.S. oil delivery hub for WTI in Cushing, Oklahoma fell 1.8 million barrels, or 6.2 percent.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $69.46/bbl; prices have increased by $0.70/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.32/bbl in compare to last closing price and was assessed around $72.58/bbl.
• This week benzene prices have increased.
• Eastern China Benzene inventories drop by 3.90% week on week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 830/mt and USD 840/mt respectively.

 $1 = Rs. 68.87
 Import Custom Ex. Rate USD/ INR: 69.60
 Export Custom Ex. Rate USD/ INR: 67.90