Acetone Weekly Report 25 Nov 2017

Weekly Price Trend: 20-11-2017 to 24-11-2017
 

 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 increased. By the end of the week prices of Acetone were assessed at the level of Rs.55/kg for Kandla and 55/kg for Mumbai ports of India.

Total import at various ports of India October, 2017

Above graph represents the total imported quantity of Acetone for the month of October 2017. Last month total imported quantity of Acetone was around 18524mt. At Bombay port imported quantity were higher while at Nhava Sheva 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 incrased in compare to previous week and at the end of the week prices were assessed at the level of Rs 55/kg for Kandla and Rs 55/kg Mumbai ports.
• This week in international market, prices of Acetone have remained firm in compare to previous week.
• Presently Acetone market is moving with soft velocity no major deals and discussion has been heard.      
• Shell Chemicals has planned to idle its two Acetone units in 2018 based at US. The decision has been taken in order to tighten the supply of Acetone. The company has further plans to idle its Phenol 3 plant in Deer Park in Texas in mid of January 2018.
• The plant has Acetone capacity of 1,44,000 tonnes/year.
• Supply in the tightening of Acetone will compel users to import it from Asian countries where easy supply is available.
• On Thursday, closing crude values have increased. WTI on NYME closed at $58.45/bbl; prices have increased by $0.37/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $63.38/bbl.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 870/mt and USD 870/mt respectively.

 $1 = Rs. 64.55
 Import Custom Ex. Rate USD/ INR: 66.20
 Export Custom Ex. Rate USD/ INR: 64.50