Phthalic Anhydride Weekly Report 31 March 2018

Weekly Price Trend: 26-03-2018 to 30-03-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• There has been no change in domestic prices for this week. Prices were assessed around Rs.87/Kg for Ahmedabad and Rs 85/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 87/Kg for Ahmedabad and Rs 85/Kg for Mumbai port. This week there has been increase 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.
• This week crude oil prices have followed weak trend but on Thursday oil prices have escalated by 1 percent as the equities markets rallied and as market participants weighed a rise in U.S. crude inventories and production against continued OPEC supply curbs.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $64.94/bbl; prices have increased by $0.56/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $70.27/bbl.
• Market players said that strong compliance on supply cuts from members of The OPEC and allies like Russia have supported prices. OPEC sources said the group and its allies are likely to keep their deal on cutting output for the rest of 2018 when they meet in June.
• As per market report, China was taking its first steps to pay for imported crude oil in yuan instead of the U.S. dollar. This week marked the launch of the Shanghai crude oil futures contract.

$1 = Rs. 65.17
Import Custom Ex. Rate USD/ INR: 65.80
Export Custom Ex. Rate USD/ INR: 64.15