Maleic Anhydride Weekly Report 03 Feb 2018

Weekly Price Trend: 22-01-2018 to 27-01-2018

• The above given graph focuses on the Maleic Anhydride price trend for the current week.
• This week, there has been significant hike in the domestic prices by end of the week.
• Prices were assessed at the level of Rs.101-100/Kg for Ahmedabad and Mumbai regions.

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 increased for this week. Prices were assessed at the level of Rs.101-100/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.
•  
• With announcement of budget 2018 on Thursday, the petrochemical sector of India has remained subdued. With upsurge in crude values in international market and increasing currency rate are symptoms for weak economic growth and slowdown in economic development.
• This week oil prices have followed volatile trend. Goldman Sachs on Thursday raised its 2018 oil price forecasts, projecting that Brent crude will soon top $80, fueled by blockbuster oil demand, a deal among big producers to limit output and U.S. drillers' inability to meet the world's growing energy appetite.
• On Thursday, closing crude values have increased. WTI on NYME closed at $65.80/bbl; prices have increased by $1.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $69.08/bbl.
• On Friday oil prices showed strong compliance with output cuts by OPEC and others including Russia, offsetting concerns about surging U.S. production.
• Goldman recently raised its 2018 forecast for oil demand growth to 1.86 million barrels a day from 1.73 million barrels a day. it introduced its 2019 demand forecast at 1.6 million barrels a day but said economic growth around the world means consumption could be even stronger.Market remained stable in the first week of this new year 2018. There has been no change in domestic values.

$1 = Rs. 64.06
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.85