Maleic Anhydride Weekly Report 20 Oct 2018

Weekly Price Trend: 15-10-2018 to 19-10-2018

• 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.
• 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.

• There has been significant decline in crude prices in last two weeks. Prices plunged by more than 11 % in last two weeks. Oil prices rose to nearly four-year highs at the start of October as there has been depletion in crude supply sue to US sanctions on Iran.
•  Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
• The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
• The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.

$1 = Rs. 73.32
Import Custom Ex. Rate USD/ INR: 74.30
Export Custom Ex. Rate USD/ INR: 72.60