Acetone Weekly Report 22 Sep 2018

Weekly Price Trend: 17-09-2018 to 21-09-2018

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

Total import at various ports of India August, 2018

Above graph represents the imported quantity of Acetone for the month of August. Last month total imports were around 13508MT.

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 at the end of the week prices were assessed at the level of Rs 54/kg for Kandla and Rs 53/kg Mumbai ports.
• This week in international market, prices of Acetone have decreased in compare to previous week.
• Acetone inventories at shore tanks along eastern China increased to 50,000 tonnes in the week ended.
• Domo Caproleuna declared acetone, phenol force majeure in Germany.
• Crude prices are making new heights. On Thursday prices slightly eased with US president urging OPEC to bring prices down. Experts believe that Brent will soon cross the mark of USD 80 after gap of four years. US President would least want the crude prices to go high with mid election in next few months.
• The Iranian sanctions are making hard for the Asian countries which are the consumers of Iranian crude. Many buyers have already cut Iranian purchases ahead of the new regulations. It is unclear whether producers such as Saudi Arabia, Iraq and Russia can compensate for lost supply.
• This week benzene prices have decreased.
• East China benzene inventories drop to 162,200 tonnes.
• As per report, Benzene prices will remain bearish due to an increase in supply for October and November.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 845/mt and USD 850/mt respectively.

 $1 = Rs. 72.19
 Import Custom Ex. Rate USD/ INR: 73.65
 Export Custom Ex. Rate USD/ INR: 71.95