Acetone Weekly Report 26 May 2018

Weekly Price Trend: 21-05-2018 to 25-05-2018

 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 plunged. By the end of the week prices of Acetone were assessed at the level of Rs.59/kg for Kandla and 59/kg for Mumbai ports of India.

Booking Scenario

• These prices are inclusive of anti dumping duty.

INDIA& INTERNATIONAL

• For the current week in domestic market acetone price have plunged and at the end of the week prices were assessed at the level of Rs 59/kg for Kandla and Rs 59/kg Mumbai ports.
• This week in international market, prices of Acetone have remained firm in compare to previous week.
• Sinopec Yanshan has resumed it Phenol/Acetone plant it is based at Beijing.
• As per report, East China acetone inventories drop by 18.5% to 22,000 tonnes.
• Sinopec cuts east China acetone offers.
• This week oil prices have followed volatile trend. On Thursday, prices plunged, by the prospect of the first increase in OPEC output since 2016 in the face of concern over supply from both Venezuela and Iran, while a surprise rise in U.S. crude inventories raised doubt over seasonal demand.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $70.71/bbl; prices have decreased by $1.13/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange decreased by $1.01/bbl in compared to last trading and was assessed around $78.79/bbl.
• East China shore tank benzene inventories rise to 237,800 tonnes.
• This week benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 860/mt and USD 865/mt respectively.

 $1 = Rs. 67.75
 Import Custom Ex. Rate USD/ INR: 68.65
 Export Custom Ex. Rate USD/ INR: 66.95