EDC Weekly Report 14 July 2018
Weekly Price Trend: 09-07-2018 to 13-07-2018
- 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 39/kg.
Booking Scenario
INDIA & INTERNATIONAL
- This week in the domestic market, prices of EDC have increased in compare to previous week and were assessed at Rs 39/kg.
- In international market, prices of EDC have increased in compare to earlier week.
- This week with the increase in demand from end users EDC prices have increased.
- This week feedstock ethylene prices have escalated with the increase in stipulation.
- Formosa Plastics Corporation (FPC) has completed maintenance of its EDC unit by this week. Earlier the unit was shut down in mid of June. The unit will resume its production by next week. Unit is based at Mailiao in Taiwan and has the manufacturing capacity of 1.65 mln mt/year.
- FOB Korea prices of feedstock ethylene USD 1340/MT
- CFR China prices of feedstock ethylene USD 1390/MT
- CFR South East Asia prices of feedstock ethylene USD 1275/MT.
- This week crude oil prices have followed mixed trend. On Thursday oil prices steadied, after the International Energy Agency's warned that the world's oil supply cushion "might be stretched to the limit" due to production losses in several different countries.
- Brent prices rallied on Thursday, recouping some ground following sharp losses the previous session after Libya said it would resume oil exports. Brent crude oil gained 59 cents a barrel to trade at $74/bbl. On Wednesday, the global benchmark slumped $5.46, its biggest one-day fall in two years.
- On Thursday, closing crude values have remained mixed. WTI on NYME closed at $70.33/bbl; prices have decreased by $0.05/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.05/bbl in compare to last closing price and was assessed around $74.45/bbl.
$1 = Rs. 68.52
Import Custom Ex. Rate USD/ INR: 69.70
Export Custom Ex. Rate USD/ INR: 68.00
