Phthalic Anhydride Weekly Report 03 Feb 2018

Weekly Price Trend: 29-01-2018 to 02-02-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• There has been significant fall in domestic prices for this week. Prices were assessed around Rs.70/Kg for Ahmedabad and Rs 68/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 76/Kg for Ahmedabad and Rs 75/Kg for Mumbai port. This week there has hike in domestic values. CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
• With announcement of budget 2018 on Thursday, the petrochemical sector of India has remained subdued. With upsurge in crude values in international market and increasing currency rate are symptoms for weak economic growth and slowdown in economic development.
• This week oil prices have followed volatile trend. Goldman Sachs on Thursday raised its 2018 oil price forecasts, projecting that Brent crude will soon top $80, fueled by blockbuster oil demand, a deal among big producers to limit output and U.S. drillers' inability to meet the world's growing energy appetite.
• On Thursday, closing crude values have increased. WTI on NYME closed at $65.80/bbl; prices have increased by $1.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $69.08/bbl.
• On Friday oil prices showed strong compliance with output cuts by OPEC and others including Russia, offsetting concerns about surging U.S. production.
• Goldman recently raised its 2018 forecast for oil demand growth to 1.86 million barrels a day from 1.73 million barrels a day. it introduced its 2019 demand forecast at 1.6 million barrels a day but said economic growth around the world means consumption could be even stronger.

$1 = Rs. 64.06
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.85