EDC Weekly Report 18 March 2017

Weekly Price Trend: 13-03-2017 to 17-03-2017

• 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 24/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 24/kg.
• In international market, prices of EDC have remained firm in compare to earlier week.
• Domestic market prices of EDC have plunged on account of weak demand sentiments.
• Presently market is moving with soft-to-stable velocity no major deals has been heard.
• As per report, Global oil inventories rose for the first time in six months in January, despite the OPEC agreement. Iraq is planning to boost output later in the year even as the OPEC member reaffirmed its commitment to the group’s decision to cut production to counter a global glut.
• The Asian ethylene market is set to be oversupplied in near term with several derivative plants shut for maintenance.
• This week CFR North East Asia and South East Asia prices have plunged.
• CFR North East Asia prices of feedstock Ethylene were assessed at the level of USD1200/mt.

• FOB Korea and CFR China prices of ethylene were assessed at the level of USD 1270/mt and USD 1050/mt.

$1 = Rs. 65.46
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50