Phthalic Anhydride Weekly Report 02 Dec 2017

Weekly Price Trend: 27-11-2017 to 01-12-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• There has been no change in domestic prices for this week. Prices were assessed around Rs.79/Kg for Ahmedabad and Rs 77/Kg for Mumbai port.

Booking Scenario

Antidumping Duty Country-wise
Israel-USD 139.76/MT Taiwan-USD150.88/MT Korea-USD91.12/MT.
The above chart shows the international prices of Phthalic Anhydride and its comparison from the previous prices.

INDIA & INTERNATIONAL

• Domestic prices were assessed in the range of 79/Kg for Ahmedabad and Rs 77/Kg for Mumbai port. This week there has been hike in domestic values. CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
• This week crude oil prices have followed mixed trend. On Thursday oil prices have escalated OPEC members, Russia and nine other producers agreed to extend a deal to limit their production through 2018.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.40/bbl; prices have decreased by $0.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.46/bbl in compared to last trading and was assessed around $63.57/bbl
• As per report, the producers will indeed review the deal at the next OPEC meeting in June. Some markets were concerned that a nine-month extension could cause markets to quickly tighten, leading to undersupply that results in a price spike. Oil watchers also warn that a rise in prices will give U.S. shale drillers an incentive to flood the market. Russia has expressed concern that its oil companies will continue to lose market share to American producers, who are exporting record levels of crude.

$1 = Rs. 64.46
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50