EDC Weekly Report 15 July 2017

Weekly Price Trend: 10-07-2017 to 14-07-2017
 

• 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 plunged in compare to previous week and at the end of this week prices were assessed at the level of Rs 20/kg.

 Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have plunged in compare to previous week and were assessed at Rs 20/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.

• FOB Korea and CFR China prices of ethylene were assessed at the level of USD 890/mt and USD 925/mt respectively.

• This week Crude oil prices have followed up inclination as Saudi Arabia is going to cut exports of crude oil to the United States, but this is going to be a short-term effect on the market as the United States becomes much more energy independent.
• On Thursday, closing crude values have increased.WTI on NYME closed at $46.08/bbl, prices have increased by $0.59/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.68/bbl in compared to last trading and was assessed around $48.42/bbl.

$1 = Rs. 64.45
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95