Acetone Weekly Report 3 June 2017

Weekly Price Trend: 29-05-2017 to 02-06-2017
 

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 followed volatility. By the end of the week prices of Acetone were assessed at the level of Rs.60/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 remained volatile 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 increased in compare to previous week.
• Recently Acetone market is moving with soft-to-weak velocity no major deals has been heard.
• Sinopec hikes east China acetone offers by CNY100/tonne.
• This week oil prices have followed volatile trend. After OPEC, Russia and other producers extended their agreement to curb output by 1.8 million barrels a day for another nine months, to force a rebalancing of the oil market, the bearish tone in the oil sector resurfaced.
• As per report, U.S. oil supplies dropped by 6.4 million barrels last week, a positive for the market and a much bigger decline than expected. On Thursday U.S. crude up slightly after a larger-than-expected domestic inventory drawdown.
• On Thursday, closing crude values have increased.WTI on NYME closed at $48.36/bbl, prices have increased by $0.04/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $50.33/bbl.
• As per market report, U.S. production increased, and the expectation is that ongoing activity in U.S. shale will continue to boost output, offsetting OPEC efforts.
• This week upstream benzene prices have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 750/mt and USD765/mt respectively.

 $1 = Rs. 64.44
 Import Custom Ex. Rate USD/ INR: 65.35
 Export Custom Ex. Rate USD/ INR: 63.70