Phthalic Anhydride Weekly Report 12 Aug 2017

Weekly Price Trend: 07-08-2017 to 11-08-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• Like other chemicals domestic prices for PA also increased in this week. Prices were assessed around Rs.71/Kg for Ahmedabad and Rs.69/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 71-69/Kg for Ahmedabad and Mumbai port. This week there has been significant hike in the domestic values.
• 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 crude oil prices followed volatile trend and on Thursday market closed on weaker note. Oil prices fell more than 1.5 percent on Thursday, to hit two-week lows, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.59/bbl, prices have decreased by $0.97/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.80/bbl in compared to last trading and was assessed around $51.90/bbl.
• Investors were also keeping a close eye on the broad market impact of tensions between the United States and North Korea. Recently Crude oil prices failed to hold recent gains, with a nervous market starting to doubt recent falls in inventories.
• As per report, OPEC is curbing output by about 1.2 million bpd, while Russia and other non-OPEC producers cut half as much, until March 2018.

$1 = Rs. 64.13
Import Custom Ex. Rate USD/ INR: 64.55
Export Custom Ex. Rate USD/ INR: 62.85