Phthalic Anhydride Weekly Report 11 Feb 2017

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

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• Domestic prices were assessed in the range of 71-69/Kg for Ahmedabad and Mumbai port. This week there has been rise 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 71-69/Kg for Ahmedabad and Mumbai port. This week there has been rise in the domestic values.
• Phthalic Anhydride prices were assessed 71-69/Kg for Ahmedabad and Mumbai port respectively. CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
• Crude oil prices again followed mixed throughout this week and by end of the week prices increased after an unexpected draw in U.S. gasoline inventories pointed to higher demand in the world's biggest oil market.
• According to reports, U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
• The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
• Market Analysts said that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.00/bbl, prices have increased by $0.66/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.51/bbl in compared to last trading and was assessed around $55.63/bbl.

$1 = Rs. 66.88
Import Custom Ex. Rate USD/ INR: 68.40
Export Custom Ex. Rate USD/ INR: 66.70