Phthalic Anhydride Weekly Report 26 Aug 2017

Weekly Price Trend: 21-08-2017 to 25-08-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• Like other chemicals domestic prices for PA also increased in this week. Prices were assessed around Rs.72/Kg for Ahmedabad and Rs.70/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 72-70/Kg for Ahmedabad and Mumbai port. This week there has been significant hike in the domestic values.
• 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 crude oil prices have remained volatile. On Friday, oil prices rose as the U.S. petroleum industry prepared for potential output disruptions as Hurricane Harvey headed for the heart of the nation’s oil industry in the Gulf of Mexico.  The storm has rapidly intensified since Thursday while On Thursday closing crude values have decreased.WTI on NYME closed at $47.43/bbl, prices have decreased by $0.98/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.53/bbl in compared to last trading and was assessed around $52.04/bbl.
• As per report, Prices rose as production in the affected area shut down in preparation for the hurricane, and on expectations that closures could last if the storm causes extensive damage.
• Market players have said that traders expect more upward pressure as the storm gets closer to Texas. Oil prices, however, fell because refiners may use less supply due to the storm.
• It is anticipated that recently oil prices to trade higher on account of support coming from inventory withdrawals in the US. However, Libya’s rising output remains a cause of concern for oil markets.

$1 = Rs. 64.03
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45