Phthalic Anhydride Weekly Report 30 Sep 2017

Weekly Price Trend: 25-09-2017 to 29-09-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• Like other chemicals domestic prices for PA remained unchanged in this week. Prices were assessed around Rs.76/Kg for Ahmedabad and Rs 74/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 76/Kg for Ahmedabad and Rs 74/Kg for Mumbai port. This week there has been no change in the domestic values. There has been weakening in demand in domestic sector due to festive season across the nation. With starting of Navratri festival in western part of India, the demand really gets duped. This upcoming festive season will continue to weaken the demand of the chemical.
• 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 oil prices have followed mixed trend. Investors have really gained confidence in oil, after the OPEC cuts that were originally discussed earlier in the year are starting to take shape here, and oil production is being curbed.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $51.56/bbl, prices have decreased by $0.58/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.49/bbl in compared to last trading and was assessed around $57.41/bbl. Due to the combination of production cuts and growing demand, oil could head up to its 2017 high, just above $55, or even $60 per barrel by year-end. A global supply glut has plagued the market for several years, and OPEC member countries and non-member producers have vowed to implement cuts to curb such oversupply.

$1 = Rs. 65.28
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70