Phthalic Anhydride Weekly Report 09 Dec 2017

Weekly Price Trend: 04-12-2017 to 08-12-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• There has been no change in domestic prices for this week. Prices were assessed around Rs.79/Kg for Ahmedabad and Rs 77/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 79/Kg for Ahmedabad and Rs 77/Kg for Mumbai port. This week there has been hike in domestic values. CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
• Crude oil prices remained mixed for this week. Oil rose on Thursday indicating that investors are doubtful of pushing the market lower in response to an unexpectedly large rise in U.S. stocks of refined products that has increased concern about the demand outlook.
• On Thursday, closing crude values have increased. WTI on NYME closed at $56.69/bbl; prices have increased by $0.73/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.98/bbl in compared to last trading and was assessed around $62.20/bbl.
• On Friday oil prices dipped as the U.S. dollar strengthened, although OPEC-led supply cuts are seen supporting markets going into next year.
• As per market players, Soaring U.S. output threatens to undermine efforts led by the OPEC and Russia to bring production and demand into balance following years of oversupply. The market suggests that the bull market is not as strong as earlier predicted. Oil prices saw a sharp 2.9 percent decline after the US published its inventory data. Analysts expect that oil prices to move in a price band of USD 45 to USD 60 for the calendar year 2018.

$1 = Rs. 64.46
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70