Phthalic Anhydride Weekly Report 29 April 2017

Weekly Price Trend: 24-04-2017 to 28-04-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• Domestic prices were assessed in the range of 79/Kg for Ahmedabad and Rs.81/Kg for Mumbai port. This week there has significant fall 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 81-79/Kg for Ahmedabad and Mumbai port. This week there has been slight decline in the domestic values.
•  CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
• Throughout the week oil prices remained volatile. As per recent records oil prices reduced sharply.WTI from $53 a barrel, down to $48 while Brent declined from $55 to $51. The falling oil means weakening of economy, the reality is that oil is being driven by increased supply. On Thursday oil prices have plunged as the resume of two key Libyan oilfields and concerns about dreary gasoline demand fed concern over whether major oil producers can lessen the glut of global inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.97/bbl, prices have increased by $0.65/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.38/bbl in compared to last trading and was assessed around $51.44/bbl.
• As per market analyst As gas prices dropped, it created an undertow for the entire crude oil market. The outlook for oil prices will remain unstable. Decline in crude prices and therefore petroleum product prices also means corresponding reduction in prices of some of the raw materials for the petrochemical industry. Hence, it can be a factor in improving the profitability of that industry.

$1 = Rs. 64.24
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85