Phthalic Anhydride Weekly Report 07 Oct 2017

Weekly Price Trend: 02-10-2017 to 06-10-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• Like other chemicals domestic prices for PA remained unchanged in this week. Prices were assessed around Rs.76/Kg for Ahmedabad and Rs 74/Kg for Mumbai port. This week there has been hike 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 76/Kg for Ahmedabad and Rs 74/Kg for Mumbai port. This week there has been no change in the domestic values. There has been weakening in demand in domestic sector due to festive season across the nation. With starting of Navratri festival in western part of India, the demand really gets duped. This upcoming festive season will continue to weaken the demand of the chemical.
• CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
• Market sentiments remained stable as one of the major market of Asia, China remained closed due to golden week holidays. The Market will open now on Monday. So the demand remained lull from China.
• Crude price remained volatile throughout this week. On Wednesday after slipping a bit oil prices rose again on Thursday based on expectations that Saudi Arabia and Russia would extend production cuts, although record U.S. exports and the return of supply from a Libyan oilfield dragged on the market.
• On Thursday, crude values closed on higher note. WTI on NYME closed at $50.79/bbl, prices have increased by $0.81/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.20/bbl in compared to last trading and was assessed around $57.00/bbl.
• As per market players, OPEC and other producers, including Russia, to cut oil output to boost prices could be extended to the end of 2018, instead of expiring in March 2018.

$1 = Rs. 65.38
Import Custom Ex. Rate USD/ INR: 65.95
Export Custom Ex. Rate USD/ INR: 64.30