EDC Weekly Report 02 Sep 2017

Weekly Price Trend: 28-08-2017 to 01-09-2017
 

• The above graph focuses on the weekly price trend of EDC for the current week.
• As per the above graph, it has been inferred that this week the prices of EDC have plunged in compare to previous week and at the end of this week prices were assessed at the level of Rs 16/kg.

 Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have plunged in compare to previous week and were assessed at Rs 16/kg.
• In international market, prices of EDC also have remained firm in compare to earlier week.
• Presently in domestic market demand has been hampered by the heavy rain fall in Mumbai and near by places on account of this EDC prices have remained stable-to-firm.
• As per recent news, North East Asia ethylene prices extend gains on stronger SM, MEG.
• Tropical Storm Harvey has shut down specialty chemical and petrochemical plants along the Gulf Coast.
• As per the recent report, the storm has affected about 40 percent of the petrochemicals market.
•  Harvey, boosting prices and threatening shortages for basic industrial building blocks such as ethylene and other chemicals.
• Producers such as Exxon Mobil Corp. and Occidental Chemical Corp. have shut plants and cut back operations in recent days. About 40 percent of U.S. ethylene capacity has been shut.
• FOB Korea prices of feedstock ethylene USD 1220/MT
• CFR China prices of feedstock ethylene USD 1285/MT
• CFR South East Asia prices of feedstock ethylene USD 1150/MT

$1 = Rs. 64.02
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45