Acetone Weekly Report 22 July 2017

Weekly Price Trend: 17-07-2017 to 21-07-2017
 
  
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 followed firm trend. 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 June, 2017

Above chart represent the total imported quantity of Acetone for the month of June 2017.
Previous month total imports were around 12867MT. As per chart last month at Kandla imports were higher while at Ennore port imported quantity was lesser.

Booking Scenario
 

• These prices are inclusive of anti dumping duty.

INDIA& INTERNATIONAL    

• For the current week in domestic market acetone price have remained firm 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 increased in compare to previous week.
• This week with the increase in crude oil prices Acetone booking also have increased little bit.
• Recently demand sentiments have been stable-to-firm.
• China's Kingboard Guangzhou plans to shut its phenol/acetone plant.
• This week oil prices have followed volatility in the market. Oil prices jumped more than 1 percent on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories. On Thursday , oil settled lower in uneven trading.Closing crude values have decreased.WTI on NYME closed at $46.92/bbl, prices have decreased by $0.40/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $49.30/bbl.
• US July barge acetone contracts fully settle higher by 1.3%.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 725/mt and USD745/mt respectively.

 $1 = Rs. 64.32
 Import Custom Ex. Rate USD/ INR: 65.65
 Export Custom Ex. Rate USD/ INR: 63.95