EDC Weekly Report 08 Sep 2018

Weekly Price Trend: 03-09-2018 to 07-09-2018

• 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 increased in compare to previous week and at the end of this week prices were assessed at the level of Rs 27.5/kg.

Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have increased little in compare to previous week and were assessed at Rs 28/kg.
• In international market, prices of EDC also have remained firm in compare to earlier week.
• The Asian ethylene market remains bearish on increasing supplies, from Southeast Asia and bearish demand sentiments from end users.
• FOB Korea prices of feedstock ethylene USD 1345/MT
• CFR China prices of feedstock ethylene USD 1320/MT
• CFR South East Asia prices of feedstock ethylene USD 1220/MT.
• US ethylene hits six-month high on increasing feedstock prices.
• There has been continuous soaring in crude prices in this week. The US inventories have fell to their lowest levels since February 2015.  US West Texas Intermediate (WTI) crude futures were at $67.90 per barrel at 0056 GMT, up 13 cents, or 0.2 per cent, from their last settlement. 
• International Brent crude futures climbed 12 cents, or 0.2 per cent, to $76.62 a barrel. With release of Oil inventory data last night, a large number has been drawn from crude inventories.
• Global oil markets have tightened over the last month, pushing up Brent prices by more than 10 per cent since the middle of August. Investors anticipate less supply from Iran as US sanctions on Tehran begin to bite.

$1 = Rs. 71.73
 Import Custom Ex. Rate USD/ INR: 71.10
 Export Custom Ex. Rate USD/ INR: 69.40