Maleic Anhydride Weekly Report 13 Oct 2018

Weekly Price Trend: 08-10-2018 to 12-10-2018

• The above given graph focuses on the Maleic Anhydride price trend for the current week.
• This week, market  have remained firm. Prices were assessed at the level of Rs.105-103/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 have remained firm in domestic market. Prices were assessed at the level of Rs.105-103/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 1270-1290/MT, for Taiwan origin material, with no change for this week.
• US Maleic Anhydride prices escalated on higher feedstock Butane prices. Presently feedstock prices continue to increase resulted increase in maleic prices.
• Maleic anhydride has a broad range of uses, from food additives to paints and coatings applications. Supply and demand are in balance at the start of the fourth quarter. Most production is running normal after one producer had a delayed restart after its turnaround, as per report.
• Last week there was strong rally for crude prices and was expected to cross the mark of USD 100/bbl very soon. But this week scenario was totally different. Brent crossed the mark of $86 on Tuesday , lowered in last two days on back of investors sell off in the trading.
• The main story driving the oil market remains the loss of Iranian crude exports ahead of the full renewal of U.S. sanctions on Nov. 4. That deadline is still frightening large over the market and could help push oil prices back up.
• All the major nations unanimously agree that with Iran sanctions, a large chunk of oil will be removed from the market. How strong its impact is beyond everybody’s imaginations.
• Indian Rupee has depreciated more than by 15% year-to-date. Higher crude oil prices, demand from defense and oil marketing firms have contributed to the latest bout of weakness. Rupee was overvalued on trade weighted real effective exchange rate.

$1 = Rs. 73.54
Import Custom Ex. Rate USD/ INR: 74.60
Export Custom Ex. Rate USD/ INR: 72.90