Acetone Weekly Report 29 April 2017

Weekly Price Trend: 24-04-2017 to 28-04-2017
   

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. By the end of the week prices of Acetone were assessed at the level of Rs.60/kg for Kandla and 60/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 decreased in compare to previous week and at the end of the week prices were assessed at the level of Rs 60/kg for Kandla and Rs 60/kg Mumbai ports.
• This week in international market, prices of Acetone have decreased in compare to previous week.
• There has been decline in the prices for Acetone in international market. This decline has been profusely due to fall in Benzene prices in Asian markets.
• Through the week oil prices have remained volatile. As per recent data in last 15 days oil prices sharply have stabbed rapidly, WTI from $53 a barrel down to $48 while Brent declined from $55 to $51. The falling oil means weakening economic demand, the reality is that oil is being driven by increased supply.
• On Thursday oil prices have plunged as the resume of two key Libyan oilfields and concerns about dreary gasoline demand fed concern over whether major oil producers can lessen the glut of global inventories.
• As per market analyst, the outlook for oil prices will remain unstable. Decline in crude prices and therefore petroleum product prices also means corresponding reduction in prices of some of the raw materials for the petrochemical industry. Hence, it can be a factor in improving the profitability of that industry.
• Benzene market have remained weakens in East china.
• As per report, China benzene inventories down on lower import arrivals.
• Feedstock benzene prices have decreased this week with the weak buying sentiments.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 765/mt and USD775/mt respectively.

 $1 = Rs. 64.24
 Import Custom Ex. Rate USD/ INR: 65.55
 Export Custom Ex. Rate USD/ INR: 63.85