Maleic Anhydride Weekly Report 11 March 2017

Weekly Price Trend: 06-03-2017 to 10-03-2017

• 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.
• There has been toppling of crude values in this week. In last five days US oil prices  plunge by 7.5% while Brent oil sink by 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
• According to reports, declining oil prices have helped U.S. and global energy companies to get back into the investing mode but yet experts believe that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.
• Market players foresee for OECD oil stocks to decline significantly this year will help the large OPEC cuts and robust global demand growth, to consider the recent drop in crude oil prices to be a good opportunity to enter into bullish option structures.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $49.28/bbl, prices have decreased by $1.00/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.92/bbl in compared to last trading and was assessed around $52.19/bbl.

$1 = Rs. 66.60
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00