Phthalic Anhydride Weekly Report 14 July 2018

Weekly Price Trend: 09-07-2018 to 13-07-2018

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• There has been no change in domestic values. Prices were assessed around Rs.82.5/Kg for Ahmedabad and Rs 80.5/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 82.5/Kg for Ahmedabad and Rs 80.5/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 1055-1075/MT from Iran origin.
• CFR India values for Belarus origin were assessed around USD 1110/MT.
• Prices in Indian market are likely to remain weak as there are heavy rains in Mumbai and western part of India. There is a huge impact of monsoon season on the demand for majority of petchem products.
• This week crude oil prices have followed mixed trend. On Thursday  oil prices steadied, after the International Energy Agency's warned that the world's oil supply cushion "might be stretched to the limit" due to production losses in several different countries.
• Brent prices rallied on Thursday, recouping some ground following sharp losses the previous session after Libya said it would resume oil exports. Brent crude oil gained 59 cents a barrel to trade at $74/bbl. On Wednesday, the global benchmark slumped $5.46, its biggest one-day fall in two years.     
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $70.33/bbl; prices have decreased by $0.05/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.05/bbl in compare to last closing price and was assessed around $74.45/bbl.
• As per report, inventories at the Cushing, Oklahoma, delivery hub had fallen 929,399 barrels from July 6 to July 10. Supply to the U.S. market has also been squeezed by the loss of some Canadian oil production.
• The pullback has not yet derailed the possibility that Brent will recover to above $80 a barrel by the end of the year. Market players said t hat that if Brent pulls to below $70 a barrel, there is less of a chance that the market will recover as quickly.

$1 = Rs. 68.52
Import Custom Ex. Rate USD/ INR: 69.70
Export Custom Ex. Rate USD/ INR: 68.00