Acetone Weekly Report 24 March 2018

Weekly Price Trend: 19-03-2018 to 23-03-2018

 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.59.5/kg for Kandla and 59/kg for Mumbai ports of India.

Total import at various ports of India February, 2018

Above graph represents the prices of Acetone for the month of February, 2018. Previous month total imported quantity was around 13804MT.

 Booking Scenario

• These prices are inclusive of anti dumping duty.

INDIA& INTERNATIONAL    

• For the current week in domestic market acetone price have plunged and in compare to previous week and at the end of the week prices were assessed at the level of Rs 59.5/kg for Kandla and Rs 59/kg Mumbai ports.
• This week in international market, prices of Acetone have decreased in compare to previous week.
• East China acetone inventories rise 18.6% on weekly basis.
• The decision taken by Reserve Bank of India (RBI) to ban the lending credit will have an adverse impact on chemical importers in the country.
• The Indian importers believe that this ban will have an adverse impact on traders as import cost will shoot up. The most prominent chemicals are Phenol and acetone and other solvents are likely to witness a severe hike in values.
• This week crude oil prices have followed little volatility while increased through the week. On Thursday oil prices fell as investors booked profits after this week's rally, but losses were limited by the continuing efforts of OPEC and its allies to curb supplies.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $64.30/bbl; prices have decreased by $0.87/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.56/bbl in compared to last trading and was assessed around $68.91/bbl.
• Feedstock Benzene inventories at shore tanks along eastern China increased.
• Feedstock benzene prices have fluctuated in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 855/mt and USD 845/mt respectively.

 $1 = Rs. 65.00
 Import Custom Ex. Rate USD/ INR: 65.80
 Export Custom Ex. Rate USD/ INR: 64.15