Phthalic Anhydride Weekly Report 14 Oct 2017

Weekly Price Trend: 09-10-2017 to 13-10-2017

• 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.
• Tightening of pollution norms in China has been curtailing the production of the county to greater extent. Manufacturers are bound to produce the chemical in certain limit otherwise will face strict penalties by the government. Implementation of new environmental laws in China has already caused a decline in its chemicals exports and the trend is likely to accentuate in next few years. This has led to limited supply of the chemical within country and fall in exports. This upsurge has led to surging of cost of material and rise in manufacturing cost.
• This is the reason in last few months there has been hike in values of many petrochemical products in China with higher demand in downstream industry.
• There has been continuous oscillation in crude values for this week. On Thursday oil prices rebounded from earlier losses, but ended lower on the day, after the Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production.
• On Thursday, crude values closed on lower note. WTI on NYME closed at $50.60/bbl, prices have decreased by $0.70/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.69/bbl in compared to last trading and was assessed around $56.25/bbl.
• According to reports, the global outlook for oil markets in 2018 could put a dampener on hopes for higher prices. Market players said that supply growth in the final three months of the year would be supportive for oil prices in the fourth quarter. Oil prices could climb close to $60 a barrel in the "very short run."

$1 = Rs. 64.93
Import Custom Ex. Rate USD/ INR: 65.95
Export Custom Ex. Rate USD/ INR: 64.30