Acetone Weekly Report 8 April 2017

Weekly Price Trend: 03-04-2017 to 07-04-2017

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 remained firm. By the end of the week prices of Acetone were assessed at the level of Rs.66/kg for Kandla and 66/kg for Mumbai ports of India.
Total import for last six months

Above graph represents the total import quantity of Acetone in previous six months. As per chart In total imports were around 66881mt.In last six months in the month of December, 2016 higher quantity has been imported while in November import were lesser.

Booking Scenario

• These prices are inclusive of anti dumping duty.

INDIA& INTERNATIONAL    

• For the current week in domestic market acetone price have remained firm in compare to previous week and at the end of the week prices were assessed at the level of Rs 66/kg for Kandla and Rs 66/kg Mumbai ports.
• This week in international market, prices of Acetone have remained firm in compare to previous week.
• Presently acetone demand in market like china is growing and in near term acetone prices will go up said by market players.
• As per recent news Indian HOCL is planning to resume its phenol/acetone in mid-Apr.
• This week mostly oil prices have followed up inclination. On Tuesday prices have declined tiny but again through the week prices have escalated. Oil prices have increased as bullish sentiment remained supportive. Oil prices have increased but market players remained vigilant about record-high U.S. crude inventories.
• On Friday U.S. crude futures jumped more than in Asia after President Trump ordered the first direct American military action against the regime of Syrian President Bashar al-Assad.
• Presently traders have been watching U.S. gasoline inventories as an indicator of what may happen with crude supplies.
• As per market analyst the dollar has come under some pressure of late and this pushes up oil as well as the U.S. dollar value of offshore earnings. Traders say oil is likely to remain in its recent wide range. OPEC Secretary said that that the oil market is already rebalancing and global oil inventories are starting to come down after three months of output cuts by OPEC and their 11-non-OPEC partners. While rising U.S. crude production has some OPEC members calling for an extension of the cuts through December.
• Feedstock benzene prices have increased this week with the improved buying activity..
• FOB Korea and CFR China prices of Benzene were evaluated at USD 850/mt and USD 850/mt respectively.

 $1 = Rs. 64.28
 Import Custom Ex. Rate USD/ INR: 65.90
 Export Custom Ex. Rate USD/ INR: 64.20