Acetone Weekly Report 24 June 2017

Weekly Price Trend: 19-06-2017 to 23-06-2017

  
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 up trend. By the end of the week prices of Acetone were assessed at the level of Rs.61/kg for Kandla and 61/kg for Mumbai ports of India.

Total import at various ports of India May, 2017

The above chart depicts the total imported quantity of Acetone for the month of May, 2017. In the month of May total imported quantity of Acetone was around 14716MT. As per chart last month at Vizag port imports were higher, while at Ennore port imports were lower.

Booking Scenario

• These prices are inclusive of anti dumping duty.

INDIA& INTERNATIONAL    

• For the current week in domestic market acetone price have increased in compare to previous week and at the end of the week prices were assessed at the level of Rs 61/kg for Kandla and Rs 61/kg Mumbai ports.
• This week in international market, prices of Acetone have increased in compare to previous week.
• This week acetone prices have increased little on account improvement in demand sentiments from end users.
• Thailand's PTT cuts newer phenol/acetone unit run rate to 80-85%.
• US June barge acetone initially settles down 2.4%.
• This week oil prices have followed mixed trend. The oil market posted its worst performance in the first six months in two decades effectively signaling its refusal to accept the effectiveness of the OPEC statement and its desire for further production cuts.
• As per report, OPEC and Russia tried to stabilize prices with cuts at around $50-$60 per barrel, but this week Brent prices fell toward $44 per barrel on persistent oversupply worries.
• On Thursday Crude oil rose moderately following a Wednesday in which the commodity bottomed just above $42 per barrel.
• OPEC ministers and officials have said the cartel would not rush to deepen production cuts from the current four percent to arrest the price decline. They said the group would rather wait until existing joint cuts with non-OPEC Russia finally result in a global stocks decline during the third quarter when demand for crude oil is usually strong.
• This week Benzene prices have decreased in Asian market as oil prices also have plunged.
• Benzene inventories along eastern China rise to 82,000 tonnes.
• Sinopec cuts east China benzene list price to CNY6,100/tonne.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 720/mt and USD750/mt respectively.

 $1 = Rs. 64.52
 Import Custom Ex. Rate USD/ INR: 65.15
 Export Custom Ex. Rate USD/ INR: 63.50