Phthalic Anhydride Weekly Report 28 July 2018

Weekly Price Trend: 23-07-2018 to 27-07-2018

• 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.
• Crude prices have been on increasing trend for this week.  On Wednesday US government released the dats regarding the low inventory levels of crude. The inventory levels have reduced at max since 2015. With low inventory the worries about oversupply has now reduced which has affected the market in last few weeks.
• Oil prices rose on Thursday as Saudi Arabia suspended its shipments through strait in the Red Sea following an attack on two oil tankers by Yemen.
• Brent futures rose 61 cents to settle at $74.54 a barrel, a 0.8 percent gain. The contract earlier touched $74.83 a barrel, highest since July 16. U.S. West Texas Intermediate (WTI) crude futures were up 31 cents, settling at $69.61, a 0.5 percent gain.

$1 = Rs. 68.65
Import Custom Ex. Rate USD/ INR: 69.60
Export Custom Ex. Rate USD/ INR: 67.90