Phthalic Anhydride Weekly Report 21 July 2018

Weekly Price Trend: 16-07-2018 to 20-07-2018

• 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.80.5/Kg for Ahmedabad and Rs 78.5/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 80.5/Kg for Ahmedabad and Rs 78.5/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 oil prices have followed mixed trend. On Thursday, Brent crude fell as concerns about mounting supply returned after a brief rally on comments that Saudi Arabia's exports would fall in August. Crude also strengthened on forecasts that inventories at the U.S. oil delivery hub for WTI in Cushing, Oklahoma fell 1.8 million barrels, or 6.2 percent.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $69.46/bbl; prices have increased by $0.70/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.32/bbl in compare to last closing price and was assessed around $72.58/bbl.
• As per report, Saudi Arabia expects its crude exports to drop by roughly 100,000 bpd in August as the kingdom limits excess production.
• As per report, Saudi Arabia's crude oil exports in July would be roughly equal to June levels. Despite international oil markets being well balanced in the third quarter, there would still be substantial stock draws due to robust demand.

$1 = Rs. 68.87
Import Custom Ex. Rate USD/ INR: 69.60
Export Custom Ex. Rate USD/ INR: 67.90