Phthalic Anhydride Weekly Report 16 Sep 2017

Weekly Price Trend: 11-09-2017 to 15-09-2017

• 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.75.5/Kg for Ahmedabad and Rs 73.5/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 75.5/Kg for Ahmedabad and Rs 73.5/Kg for 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 there has been significant hike in crude values. Prices has reached too its highest level since April in this year. Crude values rose above $ 50/barrel for the first time. Both the contracts have increased by more than 19% since /June.
• Many fundamental factors are helping to support oil prices at this moment.
• Short supply, stronger demand along with ongoing restrictions from OPEC and Russia are few major reasons for the surge in oil prices.

• This week has been highly positive for crude values in international market. On Thursday closing, crude values gained in the international market.WTI on NYME closed at $49.89/bbl, prices improved by 0.59 in compared to last closing prices. While, Brent on Inter Continental Exchange was assessed at the rate of $55.47/bbl increased by 0.31/bbl on Wednesday.

$1 = Rs. 64.07
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.25