Maleic Anhydride Weekly Report 22 July 2017
Weekly Price Trend: 17-07-2017 to 21-07-2017
- The above given graph focuses on the Maleic Anhydride price trend for the current week.
- This week, there has been slight variation in domestic values.
- Prices were assessed at the level of Rs.74.5-72.5/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 reduced slightly for this week. Prices were assessed at the level of Rs.74.5-72.5/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 have followed volatile trend in the market. Oil prices jumped more than 1 percent on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories.
- On Thursday, oil settled lower in uneven trading. Closing crude values have decreased.WTI on NYME closed at $46.92/bbl, prices have decreased by $0.40/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $49.30/bbl.
- Russia is ready to continue working with OPEC to help rebalance oil markets, Moscow welcomed a flexible approach by OPEC's leader Saudi Arabia to accommodate rising output from Nigeria and Libya, said by source.
- Market players predicted that prices would hold near current levels ahead of Monday's meeting between key OPEC and non-OPEC producers in St. Petersburg, Russia. The market has been watching reports that Saudi Arabia, the world's largest crude producer, is considering an additional supply cut to reduce the global glut.
$1 = Rs. 64.32
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95
