Acetone Weekly Report 29 Sep 2018
Weekly Price Trend: 24-09-2018 to 28-09-2018
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.51/kg for Kandla and 51/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 51/kg for Kandla and Rs 51/kg Mumbai ports.
- This week in international market, prices of Acetone have increased in compare to previous week.
- Eastern China acetone inventories down by 11% to 44,500 tonnes.
- China acetone import discussions lower on deal.
- Continuous surge in crude prices has heated the global oil market. Crude prices are likely to cross the mark of USD 100 in next few weeks.
- According to Petrochemical giant Total, the supply disruptions and the delay time associated with OPEC’s ability to increase production could pull up the price to $100 per barrel. This in turn will hamper the economy and the oil industry.
- Disruptions in supply coming from Iran, Venezuela, and Libya give strong support to oil prices and they may head into triple-digit territory.
- On the other hand, although OPEC has assured to boost production, but output hasn’t increased so much. Saudi Arabia has capacity of 11 million bpd, but boosting production from current levels would need time, because they have to mobilize rigs.
- This week benzene prices have decreased.
- East China benzene inventories drop to 158,000 tonnes.
- As per report, Benzene prices will remain bearish due to an increase in supply for October and November.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 860/mt and USD 865/mt respectively.
$1 = Rs. 72.48
Import Custom Ex. Rate USD/ INR: 73.65
Export Custom Ex. Rate USD/ INR: 71.95
