Phthalic Anhydride Weekly Report 25 March 2017

Weekly Price Trend: 20-03-2017 to 24-03-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• Domestic prices were assessed in the range of 85-83/Kg for Ahmedabad and Mumbai port. This week there has significant rise 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 85-83/Kg for Ahmedabad and Mumbai port. This week there has been no change in the domestic values.
• Phthalic Anhydride prices were assessed 85-83/Kg for Ahmedabad and Mumbai port respectively. CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
• Price trend for crude values remained thin with very few changes. Oil prices plunged initially as U.S. crude inventories increased faster than expected, piling pressure on OPEC to extend output cuts beyond June. Now investors await a meeting between OPEC and its allies that may signal whether they will extend output curbs.
• As per sources, American crude output continued to rise along with inventories, while OPEC won’t formally decide until May whether to extend production curbs, officials will meet this weekend in Kuwait to discuss their deal’s progress.
• Market analyst said that without the production cut agreement, prices could basically target the low-to-mid $30s, players are positive that they will extend production cut. Some players are anticipating lowering prices due to high supplies.
• On Monday WTI were closed at $49.31 and Brent closed at $51.76 while on Thursday, closing crude values have decreased.WTI on NYME closed at $47.70/bbl, prices have decreased by $0.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $50.56/bbl.

$1 = Rs. 67.63
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50