Maleic Anhydride Weekly Report 19 Aug 2017
Weekly Price Trend: 14-08-2017 to 18-08-2017
- The above given graph focuses on the Maleic Anhydride price trend for the current week.
- This week, there has been no change in domestic values.
- Prices were assessed at the level of Rs.80-78/Kg for Ahmedabad and Mumbai ports.
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 heavily for this week. Prices were assessed at the level of Rs.78-80//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 continuous oscillation in crude prices for this week. On Thursday oil prices rose as renewed attention was put on U.S. oil stockpile declines at Cushing, the delivery hub for U.S. crude futures.
- On Thursday, closing crude values have increased.WTI on NYME closed at $47.09/bbl, prices have increased by $0.31/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.76/bbl in compared to last trading and was assessed around $51.03/bbl.
- Market players further anticipate that crude oil prices are likely to trade sideways on the back of short covering after drop in prices. As per market predictors, the oil market has experienced a high level of disruptions to crude supply in recent years. Prices could spike above $70 a barrel if recently restored production in Nigeria and Libya falls again. But it could also sink below $40 if disruptions elsewhere in the world get resolved, putting more crude oil into the market.
- Moreover, OPEC reported its production continued to rise despite its supply quota deal with Russia. Analysts remain unconvinced that OPEC can re-balance the global oil markets without full participation from all cartel members.
$1 = Rs. 64.14
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45
