EDC Weekly Report 13 Oct 2018

Weekly Price Trend: 08-10-2018 to 12-10-2018

• 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 increased 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 1190/MT
• CFR China prices of feedstock ethylene USD 1165/MT
• CFR South East Asia prices of feedstock ethylene USD 1065/MT.
• Last week there was strong rally for crude prices and was expected to cross the mark of USD 100/bbl very soon. But this week scenario was totally different. Brent crossed the mark of $86 on Tuesday , lowered in last two days on back of investors sell off in the trading.
• The main story driving the oil market remains the loss of Iranian crude exports ahead of the full renewal of U.S. sanctions on Nov. 4. That deadline is still frightening large over the market and could help push oil prices back up.
• All the major nations unanimously agree that with Iran sanctions, a large chunk of oil will be removed from the market. How strong its impact is beyond everybody’s imaginations.
• Emerging markets like India are really struggling with higher oil prices coupled with continuous currency depreciation.

 $1 = Rs. 73.54
 Import Custom Ex. Rate USD/ INR: 74.60
 Export Custom Ex. Rate USD/ INR: 72.90