EDC Weekly Report 05 Aug 2017

Weekly Price Trend: 31-07-2017 to 04-08-2017
 

• 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 remained firm in compare to previous week and at the end of this week prices were assessed at the level of Rs 19/kg.

 Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have remained firm in compare to previous week and were assessed at Rs 19/kg.
• In international market, prices of EDC also have plunged in compare to earlier week.
• Presently EDC market is moving with soft velocity demand sentiments have been resilient from end users.
• Far East Asia and South East Asia EDC prices have plunged owing to slothful stipulation from end users.
• Far East Asia and South East Asia EDC price was assessed in the range of USD 220-240mt and USD 200-220mt respectively.
• This week VCM prices have increased due to bullish demand sentiments while EDC prices have plunged
• FOB Korea and CFR China prices of feedstock ethylene were evaluated at USD 955/mt and 995/mt.
• South East Asia prices of EDC were evaluated at USD 1005mt.
• This week prices have remained volatile. On Thursday oil prices plunged as watchful buying dried up after U.S. crude rose to nearly $50 a barrel.
• On Thursday, WTI on NYME closed at $49.03/bbl, prices have decreased by $0.56/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.35/bbl in compared to last trading and was assessed around $52.01/bbl.

$1 = Rs. 63.58
Import Custom Ex. Rate USD/ INR: 64.55
Export Custom Ex. Rate USD/ INR: 62.85