Phthalic Anhydride Weekly Report 20 May 2017

Weekly Price Trend: 15-05-2017 to 19-05-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• Domestic prices were assessed in the range of 74/Kg for Ahmedabad and Rs.76/Kg for Mumbai port. This week there has significant fall 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 76-74/Kg for Ahmedabad and Mumbai port. This week there has been slight decline in the domestic values.
•  CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.

• This week overall crude oil prices plunged with little instability. Recent announcements by Russia and Saudi Arabia have helped oil prices to recover and several analysts have highlighted the energy sector as a potential play for investors.
• According to recent reports, Russia and Saudi Arabia has announced about the cut in supply of oil to be extended for another nine months i.e till arch 2018.are likely tp discuss this matter in their next meeting.
• Experts from tm the oil market believe that Russia and other major producers could help drive oil prices back to $60 per barrel or more with a new production deal, but again that would be a green signal for U.S. shale drillers. This drive even could bring the oil to range in $60 oil the end of the year, but the gains are not expected to spike much higher.
• On Thursday, closing crude values have increased.WTI on NYME closed at $49.35/bbl, prices have increased by $0.28/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.30/bbl in compared to last trading and was assessed around $52.51/bbl. 

$1 = Rs. 64.64
Import Custom Ex. Rate USD/ INR: 65.30
Export Custom Ex. Rate USD/ INR: 63.60