Maleic Anhydride Weekly Report 29 Sep 2018

Weekly Price Trend: 24-09-2018 to 28-09-2018

• The above given graph focuses on the Maleic Anhydride price trend for the current week.
• This week, market have increased. 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 increased 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.
• Japan's liquid maleic anhydride (MA) October contracts have settled higher on recent gains in feedstocks benzene.
• SE Asia Maleic Anhydride  prices stable despite feedstock gains.
• Asia’s petrochemical trades have slowed down as China will go on a week-long holiday in October.
• Continuous surge in crude prices has heated the global oil market. Crude prices are likely to cross the mark of USD 100 in next few weeks.
• According to Petrochemical giant Total, the supply disruptions and the delay time associated with OPEC’s ability to increase production could pull up the price to $100 per barrel. This in turn will hamper the economy and the oil industry.
• Disruptions in supply coming from Iran, Venezuela, and Libya give strong support to oil prices and they may head into triple-digit territory. On the other hand, although OPEC has assured to boost production, but output hasn’t increased so much. Saudi Arabia has capacity of 11 million bpd, but boosting production from current levels would need time, because they have to mobilize rigs.
• US Sanctions will surely trigger a dramatic shortfall in global supply. And the sanctions are widely expected to have an immediate impact on Iran's oil exports, although estimates of exactly how much of the country's oil could disappear from November 4 vary widely.
• Some energy market analysts expect around 500,000 barrels per day (bpd) to disappear once U.S. sanctions against Iran come into force, while others have warned as much as 2 million bpd could come offline over the coming months.

$1 = Rs. 72.48
Import Custom Ex. Rate USD/ INR: 73.65
Export Custom Ex. Rate USD/ INR: 71.95