Phthalic Anhydride Weekly Report 16 Dec 2017

Weekly Price Trend: 11-12-2017 to 15-12-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• There has been slight hike in domestic prices for this week. Prices were assessed around Rs.80/Kg for Ahmedabad and Rs 78/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/Kg for Ahmedabad and Rs 78/Kg for Mumbai port. This week there has been hike in domestic values. CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
• This week crude oil prices have followed mixed trend. On Thursday oil prices rose as a pipeline outage in Britain continued to support prices despite forecasts showing global crude surplus in the beginning of next year.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.04/bbl; prices have increased by $0.44/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.87/bbl in compared to last trading and was assessed around $63.31/bbl.
• While on Friday, Oil markets were stable as the Forties pipeline outage in the North Sea and the ongoing OPEC-led production cuts supported prices, while rising output from the United States kept crude from rising further.
• Traders said markets were overall well supported by efforts led by OPEC and Russia to withhold supply to prop up prices.
• As per market report, the oil market to have a surplus of 200,000 barrels per day in the first half of next year before reverting to a deficit of about 200,000 bpd in the second half. That means 2018 overall should show closely balanced market.

$1 = Rs. 64.04
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70