Acetone Weekly Report 25 Feb 2017

Weekly Price Trend: 20-02-2017 to 24-02-2017
 
  
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 decreased in compare to previous week. By the end of the week prices of Acetone were assessed at the level of Rs.75/kg for Kandla and 75/kg for Mumbai ports of India.

Total import at various ports of India January, 2017

Above chart represent the import quantity of Acetone for the month of January 2017. In January total    imported quantity were around 11683mt.As per chart previous month at Bombay port higher quantity has been imported while at Vizag port 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 decreased in compare to previous week and at the end of the week prices were assessed at the level of Rs 75/kg for Kandla and Rs 75/kg Mumbai ports.
• This week in international market, prices of Acetone have remained firm in compare to previous week.
• Presently market is moving with up velocity, as per market players demand sentiments has been improving.
• As per report, US acetone faced upward pressure and several sellers have made several price increase.
• Operating rates are unlikely to increase in the US because of a lack of margin growth for acetone.
• Oil prices remained volatile through the week. Some market players have said that oil prices will remain stuck in a narrow range as OPEC continues to cut output and U.S. drillers increase production. That will cap the recovery for oil stocks.
• The U.S. exported a good amount of crude oil and filling the gap in world markets created by OPEC cutbacks. OPEC certainly has to be concerned with U.S. oil producers eating into their market share. As per market analyst in near term the pressure on prices is going to stay in place and ultimately break out of this range to the downside.
• On Thursday, closing crude values have increased.WTI on NYME closed at $54.45/bbl, prices have increased by $0.86/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $56.58/bbl.
• Feedstock benzene prices have decreased this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 925/mt and USD 950/mt respectively.

 $1 = Rs. 66.83
 Import Custom Ex. Rate USD/ INR: 67.85
 Export Custom Ex. Rate USD/ INR: 66.15