Acetone Weekly Report 05 Aug 2017

Weekly Price Trend: 31-07-2017 to 04-08-2017
 
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 weak trend. By the end of the week prices of Acetone were assessed at the level of Rs.56/kg for Kandla and 56/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 in compare to previous week and at the end of the week prices were assessed at the level of Rs 56/kg for Kandla and Rs 56/kg Mumbai ports.
• This week in international market, prices of Acetone also have plunged in compare to previous week.
• This week Acetone market is moving with soft velocity. No major deals and discussion has been heard.
• This week prices have remained volatile. On Thursday oil prices plunged as watchful buying dried up after U.S. crude rose to nearly $50 a barrel. On Thursday, WTI on NYME closed at $49.03/bbl, prices have decreased by $0.56/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.35/bbl in compared to last trading and was assessed around $52.01/bbl.
• Investors looked ahead to an OPEC meeting next week for fresh insight into the oil cartel's commitment to improve compliance with the deal to curb production.
• However, Market participant downplayed the importance of the meeting next week, suggesting oil prices may struggle to sustained upward momentum.
• China Sinopec Mitsui runs phenol/acetone unit at low rate plant having the capacity of Acetone 150000 mt/yr and Phenol 250000 mt/yr.
• As per report, China's Kingboard Yangzhou plans to shut its phenol/acetone unit.
• China domestic benzene prices fluctuate in a narrow range.
• Sinopec Shijiazhuang Refinery & Chemical delays resume its plant.
• Benzene inventories along eastern China record high.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 735/mt and USD745/mt respectively.

 $1 = Rs. 63.58
 Import Custom Ex. Rate USD/ INR: 64.55
 Export Custom Ex. Rate USD/ INR: 62.85