Maleic Anhydride Weekly Report 22 April 2017

Weekly Price Trend: 17-04-2017 to 21-04-2017

• The above given graph focuses on the Maleic Anhydride price trend for the current week.
• This week, there has been significant lowering in domestic values.
• Prices were assessed at the level of Rs.82-80/Kg for Ahmedabad and Mumbai ports with a decrease of Rs.2/Kg for bulk quantity 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 remained unchanged for this week. Prices were assessed at the level of Rs.82-80/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.
• This week oil prices followed mixed trend. On Wednesday oil slumped after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply.
• According to reports, the surprise builds in gasoline, along with an increase in U.S. production and imports from OPEC nations, pressured prices. With just weeks to go before OPEC and other producers have to sign off on a new deal to hold down production. OPEC technical staff this month is expected to make a recommendation on whether to extend the cuts, and OPEC's monitoring committee meets the day before OPEC's May 25 meeting.
• Market players have said that to prevent a further ballooning in supplies, some OPEC producers including Saudi Arabia and Kuwait are lobbying to extend the pledge to cut production beyond June.
• On Thursday, closing crude values have remained mixed.WTI on NYME closed at $50.27/bbl, prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $52.99/bbl.

$1 = Rs. 64.61
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85