Maleic Anhydride Weekly Report 04 March 2017

Weekly Price Trend: 27-02-2017 to 03-03-2017

• The above given graph focuses on the Maleic Anhydride price trend for the current week.
• This week, there has been rise in domestic values.
• With an abrupt rise in last week daily values, this week there has been correction in domestic prices. Prices were assessed at the level of Rs.92-90/Kg for Ahmedabad and Mumbai ports slightly reduced in compare to last week’s closing values.

Booking Scenario

The above chart shows the international price of Maleic Anhydride for this week. It shows that the prices for Maleic Anhydride have remained firm for this week.
INDIA & INTERNATIONAL    

• Maleic Anhydride prices decreased slightly in domestic market. Prices were assessed at the level of Rs.92-90/Kg for Ahmedabad and Mumbai for bulk quantity.
• International prices have remained stable for this week.
• CIF India prices of Maleic Anhydride were assessed at the level of USD 980-1000/MT, for Taiwan origin material, with no change for this week.
• Oil prices remained variable throughout his week. Oil prices headed lower on Thursday to log their lowest finish in last three weeks, as U.S. government data showed that domestic crude inventories hit a record production and production edged higher last week.
• As per market sources, the high crude stockpile levels in the U.S. is the one of the major reasons behind oil’s recent inability.
• On Friday, oil prices rose as the United States imposed sanctions on some Iranian individuals and entities.
• The increasing U.S. crude output in recent months has largely offset the continuing production cuts by the OPEC and Russia. The two counterforce’s are keeping prices in a slim range, said by analysts.
• Market predictors are anticipating that the respite to continue for more weeks with the next major price mover likely to be OPEC’s meeting at the end of May in which members will decide whether to extend the cuts beyond the initial six-month period.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $52.61/bbl, prices have decreased by $1.22/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.28/bbl in compared to last trading and was assessed around $55.08/bbl.

$1 = Rs. 66.81
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00