Phthalic Anhydride Weekly Report 29 Sep 2018

Weekly Price Trend: 24-09-2018 to 28-09-2018

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• There has been slight change in domestic values. Prices were assessed around Rs.85.5/Kg for Ahmedabad and Rs 83.5/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 88.5/Kg for Ahmedabad and Rs.85.5/Kg for Mumbai port. This week there has been no chnage in domestic values. CFR India Phthalic Anhydride prices were assessed at the level of USD 1170-1190/MT from Iran origin.
• FOB Korea values for PA were assessed around USD 1180/MT.
• Continuous surge in crude prices has heated the global oil market. Crude prices are likely to cross the mark of USD 100 in next few weeks.
• There has been slowdown in Asian market as China the leader of petrochemical industry in Asiatic region has pulled down itself from any fresh trading. There will be nation holidays in China next as a result traders are reluctant to make any new purchases.
• According to Petrochemical giant Total, the supply disruptions and the delay time associated with OPEC’s ability to increase production could pull up the price to $100 per barrel. This in turn will hamper the economy and the oil industry.
• Disruptions in supply coming from Iran, Venezuela, and Libya give strong support to oil prices and they may head into triple-digit territory. On the other hand, although OPEC has assured to boost production, but output hasn’t increased so much. Saudi Arabia has capacity of 11 million bpd, but boosting production from current levels would need time, because they have to mobilize rigs.
• US Sanctions will surely trigger a dramatic shortfall in global supply. And the sanctions are widely expected to have an immediate impact on Iran's oil exports, although estimates of exactly how much of the country's oil could disappear from November 4 vary widely.
• Some energy market analysts expect around 500,000 barrels per day (bpd) to disappear once U.S. sanctions against Iran come into force, while others have warned as much as 2 million bpd could come offline over the coming months.

$1 = Rs. 72.48
Import Custom Ex. Rate USD/ INR: 73.65
Export Custom Ex. Rate USD/ INR: 71.95