Acetone Weekly Report 3 Feb 2017

Weekly Price Trend: 30-01-2017 to 03-02-2017
 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 increased in compare to previous week. By the end of the week prices of Acetone were assessed at the level of Rs.72/kg for Kandla and 72/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 increased in compare to previous week and at the end of the week prices were assessed at the level of Rs 72/kg for Kandla and Rs 72/kg Mumbai ports.
• This week the prices of Acetone in international market have remained firmin compares to last week.
• Presently in domestic market acetone prices have increased, while booking prices have remained firm.
• As per market players in domestic market on account of supply shortage acetone prices have increased.
• Oil prices remained volatile during the week. On Thursday oil prices settles on lower note as rising oil stockpiles in American storage facilities balanced data that OPEC and other big exporters were cutting production.
• U.S. crude oil inventories rose last week by an unexpected 6.5 million barrels to 494.76 million barrels. Recently Heightened tensions raise fears that the United States will pull out of the Iran nuclear deal or impose new sanctions, which could effect Tehran's ability to continue ramping up oil production.
• As per report crude oil imports were increased again and market has been bullish, as the Gulf Coast considering a big increase in crude oil inventories. Market players have said that any expectations of a sustained recovery in price will depend on increasing efforts by OPEC to curb output though the prospect of an upside breakout will be destabilized by the growing revival in U.S. crude production.
• Feedstock benzene prices have decreased this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 1000/mt and USD 1018/mt respectively.

 $1 = Rs. 67.31
 Import Custom Ex. Rate USD/ INR: 68.40
 Export Custom Ex. Rate USD/ INR: 66.70