Phthalic Anhydride Weekly Report 11 March 2017
Weekly Price Trend: 06-03-2017 to 10-03-2017
- The above given graph focuses on the Phthalic Anhydride price trend for current week.
- Domestic prices were assessed in the range of 85-83/Kg for Ahmedabad and Mumbai port. This week there has significant 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 85-83/Kg for Ahmedabad and Mumbai port. This week there has been rise in the domestic values.
- Phthalic Anhydride prices were assessed 85-83/Kg for Ahmedabad and Mumbai port respectively. CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
- There has been toppling of crude values in this week. In last five days US oil prices plunge by 7.5% while Brent oil sink by 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
- According to reports, declining oil prices have helped U.S. and global energy companies to get back into the investing mode but yet experts believe that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.
- Market players foresee for OECD oil stocks to decline significantly this year will help the large OPEC cuts and robust global demand growth, to consider the recent drop in crude oil prices to be a good opportunity to enter into bullish option structures.
- On Thursday, closing crude values have plunged.WTI on NYME closed at $49.28/bbl, prices have decreased by $1.00/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.92/bbl in compared to last trading and was assessed around $52.19/bbl.
$1 = Rs. 66.60
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00
