EDC Weekly Report 17 March 2018

Weekly Price Trend: 12-03-2018 to 16-03-2018

• 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 plunged in compare to previous week and at the end of this week prices were assessed at the level of Rs 14.5/kg.

Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have decreased in compare to previous week and were assessed at Rs 14.5/kg.
• In international market, prices of EDC have increased in compare to earlier week.
• This week oil prices have followed volatile inclination.Oil prices edged higher in choppy trade on Thursday, supported by a pickup in equity markets but pressured by expectations that crude supply will exceed demand later this year.
• On Thursday, closing crude values have increased. WTI on NYME closed at $61.19/bbl; prices have increased by $0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compared to last trading and was assessed around $65.12/bbl.
• Showa Denko has shut its ethylene cracker for a maintenance turnaround. The cracker is expected to remain shut for around 40 days. It is located in Oita, Japan, the cracker has an ethylene production capacity of 690,000 mt/year.
• Tosoh Corp has shut its cracker for a maintenance turnaround, with the production capacity of its 527,000 mt/year,  located at Yokkaichi in Japan,. The cracker is slated to remain shut for a period of around 40 days.
• For feedstock Ethylene bearish buying trend have been heard.
• FOB Korea prices of feedstock ethylene USD 1250/MT
• CFR China prices of feedstock ethylene USD 1340MT
• CFR South East Asia prices of feedstock ethylene USD 1245MT.

 $1 = Rs. 64.93
 Import Custom Ex. Rate USD/ INR: 65.80
 Export Custom Ex. Rate USD/ INR: 64.15