EDC Weekly Report 06 Oct 2018
Weekly Price Trend: 01-10-2018 to 05-10-2018
- 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 decreased in compare to previous week and at the end of this week prices were assessed at the level of Rs 34.5/kg.
Booking Scenario
INDIA & INTERNATIONAL
- This week in the domestic market, prices of EDC have decreased little in compare to previous week and were assessed at Rs 34.5/kg.
- In international market, prices of EDC also have remained firm in compare to earlier week.
- This week EDC prices have remained firm on firm buying sentiments.
- CFR North East Asia prices were assessed at the USD 1205/MT.
- FOB Korea prices of feedstock ethylene USD 1215/MT
- CFR China prices of feedstock ethylene USD 1205/MT
- CFR South East Asia prices of feedstock ethylene USD 1110/MT.
- Feedstock ethylene prices fall was by weaker buying sentiments and sufficient product availability across the Asian region.
- There has been heavy fluctuation in crude prices in this week. As the month of November is approaching fast the heat of sanction felt in the crude values across the world.
- On Thursday crude prices plunged due to rise in the inventory levels in US. But this hike was again pulled back on Thursday. Saudi Arabia and Russia has stated they will increase the crude supply but could not fill the void created by disruption of supply from Iran.
- With short supply from the price for crude is likely to reach a mark of $90 to $100 per barrel. On Wednesday, Saudi Energy Minister Khalid al-Falih said the kingdom was pumping near record levels and would raise output in November. Saudi Arabia is one of the few countries with the ability to significantly raise output. Many experts believe that the spar capacity of specified by Saudi is merely a statement but does exist in reality.
$1 = Rs. 73.78
Import Custom Ex. Rate USD/ INR: 74.60
Export Custom Ex. Rate USD/ INR: 72.90
