Acetone Weekly Report 30 June 2018

Weekly Price Trend: 25-06-2018 to 29-06-2018

 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.55/kg for Kandla and 54/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 55/kg for Kandla and Rs 54/kg Mumbai ports.
• This week in international market, prices of Acetone have remained firm in compare to previous week.
• Acetone inventories at shore tanks along eastern China have increased to 31,000 tonnes.
• China’s domestic acetone prices plunged in June due to increased supply while demand is weak, with downstream plants at major production hubs running at reduced capacities due to strict government-led environmental checks.
• China’s monthly domestic acetone supply increased by around 10,000 tonnes with the start-up of CNOOC and Shell Petrochemicals Co’s 350,000 tonne/year phenol/acetone unit in Huizhou in early May.
• As per report, demand for acetone has shrunk, on high inventories at east China ports. Inventories in Jiangsu were at around 29,000 tonnes, higher than the usual 20,000 tonnes.
• Market players anticipate that demand will go up once the environmental inspections in Jiangsu province ends around 10 July, and restocking activities could ensue following recent sharp falls prices.
• This week crude oil prices have escalated. On Thursday oil prices climbed, with U.S. crude hitting a three-and-a-half year high, bolstered by supply concerns due to U.S. sanctions that could cause a large drop in crude exports from Iran.
• On Thursday, closing crude values have increased. WTI on NYME closed at $73.45/bbl; prices have increased by $0.69/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compare to last closing price and was assessed around $77.85/bbl.
• Japan’s JXTG Nippon Oil settles July benzene ACP at $820/tonne.
• This week East China benzene inventories plunged.
• This week benzene prices have remained firm.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 815/mt and USD 815/mt respectively.

 $1 = Rs. 68.47
 Import Custom Ex. Rate USD/ INR: 69.10
 Export Custom Ex. Rate USD/ INR: 67.40