Phthalic Anhydride Weekly Report 06 May 2017
Weekly Price Trend: 01-05-2017 to 05-05-2017
- The above given graph focuses on the Phthalic Anhydride price trend for current week.
- Domestic prices were assessed in the range of 79/Kg for Ahmedabad and Rs.81/Kg for Mumbai port. This week there has significant fall in the domestic values.
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 81-79/Kg for Ahmedabad and Mumbai port. This week there has been slight decline in the domestic values.
- CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
- Price trend in crude values continue to remain volatile. As week proceeded the weakening of crude values was observed. On Thursday oil prices crashed to five-month lows as concerns about global oversupply wiped out all of the price gains since OPEC's move to cut output.
- Analysts agreed the steep price falls would likely force OPEC members to extend production cuts later this month, but the prospect of deeper cuts appeared wiry. Again OPEC is scheduled to meet on May 25 to decide whether to extend the cuts.
- On Thursday, closing crude values decreased.WTI on NYME closed at $45.52/bbl, prices decreased by $2.30/bbl in compared to last closing values. While Brent on Inter Continental Exchange decreased by $2.41/bbl in compared to last trading and was assessed around $48.38/bbl.
- Market experts believe that the current rate of cuts is sufficient to result in demand outstripping global output by 1 million barrels a day in the second half of 2017 as seasonal demand picks up. It is becoming apparent that the profit margins of many of the chemical majors could be improved as oil prices have been declining with great pace.
$1 = Rs. 64.37
Import Custom Ex. Rate USD/ INR: 65.10
Export Custom Ex. Rate USD/ INR: 63.40
