Phthalic Anhydride Weekly Report 20 Oct 2018

Weekly Price Trend: 15-10-2018 to 19-10-2018

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• There has been slight change in domestic values. Prices were assessed around Rs.88.5/Kg for Ahmedabad and Rs 86.5/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 88.5/Kg for Ahmedabad and Rs.86.5/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 1170-1190/MT from Iran origin.
• FOB Korea values for PA were assessed around USD 1180/MT.

• There has been significant decline in crude prices in last two weeks. Prices plunged by more than 11 % in last two weeks. Oil prices rose to nearly four-year highs at the start of October as there has been depletion in crude supply sue to US sanctions on Iran.
•  Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
• The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
• The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.

$1 = Rs. 73.32
Import Custom Ex. Rate USD/ INR: 74.30
Export Custom Ex. Rate USD/ INR: 72.60