Phthalic Anhydride Weekly Report 06 Oct 2018

Weekly Price Trend: 01-10-2018 to 05-10-2018

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• There has been slight change in domestic values. Prices were assessed around Rs.88.5/Kg for Ahmedabad and Rs 86.5/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 88.5/Kg for Ahmedabad and Rs.85.5/Kg for Mumbai port. This week there has been no change in domestic values. CFR India Phthalic Anhydride prices were assessed at the level of USD 1170-1190/MT from Iran origin.
• FOB Korea values for PA were assessed around USD 1180/MT.
• There has been heavy fluctuation in crude prices in this week. As the month of November is approaching fast the heat of sanction felt in the crude values across the world.
• On Thursday crude prices plunged due to rise in the inventory levels in US. But this hike was again pulled back on Thursday. Saudi Arabia and Russia has stated they will increase the crude supply but could not fill the void created by disruption of supply from Iran.
• With short supply from the price for crude is likely to reach a mark of $90 to $100 per barrel. On Wednesday, Saudi Energy Minister Khalid al-Falih said the kingdom was pumping near record levels and would raise output in November. Saudi Arabia is one of the few countries with the ability to significantly raise output. Many experts believe that the spar capacity of specified by Saudi is merely a statement but does exist in reality.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $74.33/bbl. Prices have decreased by $2.08/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.71/bbl in compare to last closing price and was assessed around $84.58/bbl.

$1 = Rs. 73.78
Import Custom Ex. Rate USD/ INR: 74.60
Export Custom Ex. Rate USD/ INR: 72.90