Phthalic Anhydride Weekly Report 27 Oct 2018

Weekly Price Trend: 22-10-2018 to 26-10-2018

• 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.
• Oil prices reduced on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand.
• "Bearish sentiment could force a re-test of support in the low $70.0 per barrel range.
• The market may shift towards an oversupply situation as evidenced by rising inventories over the past few weeks.
• U.S. crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said this week.
• Financial markets have been hit hard by a range of worries, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields, and economic concerns in Italy.
• Washington is putting pressure on governments around the world to stop importing oil from Iran.
• Most, including its biggest customer China, are falling in line, and Iran has turned to storing its unsold oil on its tanker fleet in the hope that it can sell the crude off quickly once the sanctions are lifted again.

$1 = Rs. 73.46
Import Custom Ex. Rate USD/ INR: 74.30
Export Custom Ex. Rate USD/ INR: 72.60