Phthalic Anhydride Weekly Report 23 Sep 2017

Weekly Price Trend: 18-09-2017 to 22-09-2017

• 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.75.5/Kg for Ahmedabad and Rs 73.5/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 75.5/Kg for Ahmedabad and Rs 73.5/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.
• CFR China prices for PA were last assessed at the levels of USD 910-930/MT.
• This week there has been significant hike in crude values. Prices has reached too its highest level since April in this year. Crude values rose above $ 50/barrel for the first time. Both the contracts have increased by more than 19% since /June.
• This week oil prices followed mixed trend. Oil prices were steady on Thursday ahead of a meeting of oil producers that could extend production limits aimed at clearing a glut that has depressed the market for more than three years. As per report, Ministers from the OPEC, Russia and other producers meet in Vienna on Friday and are due to consider extending output cuts that began in January.
• On Thursday, closing crude values have mixed.WTI on NYME closed at $50.55/bbl, prices have decreased by $0.14/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.14/bbl in compared to last trading and was assessed around $56.43/bbl. Presently many analysts anticipate that OPEC to extend the deal, possibly to the end of next year.

$1 = Rs. 64.79
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70