Maleic Anhydride Weekly Report 28 Jan 2017
Weekly Price Trend: 23-01-2017 to 27-01-2017
- The above given graph focuses on the Maleic Anhydride price trend for the current week.
- This week, there has been significant rise in domestic values.
- There has been rise in domestic values for Maleic Anhydride. Prices were assessed at the level of Rs.84-82/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 for this week. Prices were assessed at the level of Rs.84-81/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.
- Crude oil prices followed mixed trendthroughout ths week. On Thursday oil prices increased by ongoing rally in the U.S. stock market while gains were restricted by ample supplies and full inventories in spite of efforts by producers to cut output.
- As per recent report, U.S. crude oil production has increased by 6.3 percent in last six months.
- Again market players believe that rising U.S. output and inventories are probable to limit the impact of the agreement by the OPEC and other producers, including Russia, to cut supplies in an effort to reduce a global glut. OPEC and other exporters have said they will reduce output by almost 1.8 million bpd during the first half of 2017 and many of those cuts have already been made.
- On Thursday, closing crude values have increased.WTI on NYME closed at $53.78/bbl, prices have increased by $1.03/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.16/bbl in compared to last trading and was assessed around $56.24/bbl.
$1 = Rs. 68.04
Import Custom Ex. Rate USD/ INR: 69.10
Export Custom Ex. Rate USD/ INR: 67.40
