Maleic Anhydride Weekly Report 06 Jan 2018
Weekly Price Trend: 01-01-2018 to 05-01-2018
- The above given graph focuses on the Maleic Anhydride price trend for the current week.
- This week, there has been slight decline in the domestic prices by end of the week.
- Prices were assessed at the level of Rs.98-96/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 remained unchanged for this week. Prices were assessed at the level of Rs.98-96/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.
- Market remained stable in the first week of this new year 2018. There has been no change in domestic values.
- There has been significant upsurge in crude values in international market. Current values are all time high in last one year. The political tension in Iran has been augmenting the hike in crude values.
- This week oil prices have remained little volatile but overall closed on higher note. On Thursday U.S. crude oil prices rise to the highest level in 2½ years as markets tightening amid tensions in Iran and due to ongoing OPEC-led production cuts.
- On Thursday, closing crude values have increased. WTI on NYME closed at $62.01/bbl; prices have increased by $0.38/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compared to last trading and was assessed around $68.07/bbl.
- As per market analyst, the market is getting more bullish on oil as inventory levels get closer to the five-year average. Geopolitical uncertainty in Iran, OPEC's third largest producer, is also helping to support the price as citizens are again protesting the government.
$1 = Rs. 63.37
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.80
