Phthalic Anhydride Weekly Report 06 Jan 2018

Weekly Price Trend: 25-12-2017 to 29-12-2017

• 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 70/Kg for Ahmedabad and Rs 68/Kg for Mumbai port. This week there has heavy slowdown in domestic values. CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
• Indian government has taken an important decision of extending its anti dumping duty on imports of Phthalic Anhydride from three countries which are Korea RP, Chinese Taipei and Israel. Earlier this duty was imposed in the year 2012. The government has decided to extend this duty now till 24 December 2018. By the mean time investigation will continue to sort out the matter.
• Market remained stable in the first week of this new year 2018. There has been no change in domestic values.
• There has been significant upsurge in crude values in international market. Current values are all time high in last one year. The political tension in Iran has been augmenting the hike in crude values.
• This week oil prices have remained little volatile but overall closed on higher note. On Thursday U.S. crude oil prices rise to the highest level in 2½ years as markets tightening amid tensions in Iran and due to ongoing OPEC-led production cuts.
• On Thursday, closing crude values have increased. WTI on NYME closed at $62.01/bbl; prices have increased by $0.38/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compared to last trading and was assessed around $68.07/bbl.
• As per market analyst, the market is getting more bullish on oil as inventory levels get closer to the five-year average. Geopolitical uncertainty in Iran, OPEC's third largest producer, is also helping to support the price as citizens are again protesting the government.

$1 = Rs. 63.37
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.80