EDC Weekly Report 19 Aug 2017

Weekly Price Trend: 14-08-2017 to 18-08-2017
 

• 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 remained firm in compare to previous week and at the end of this week prices were assessed at the level of Rs 16/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 16/kg.
• In international market, prices of EDC have plunged in compare to earlier week.
• Presently EDC market is moving with weak velocity demand sentiments have been resilient from end users.
• FOB Korea and CFR China prices of feedstock ethylene were evaluated at USD 1155/mt and 1195/mt.
• South East Asia prices of EDC were evaluated at USD 1095mt.s
• NE Asia ethylene prices at 24-week high on pent-up demand
• This week oil prices have varied and on Thursday oil prices rose as renewed attention were put on U.S. oil stockpile declines at Cushing, the delivery hub for U.S. crude futures.
• On Thursday, closing crude values have increased.WTI on NYME closed at $47.09/bbl, prices have increased by $0.31/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.76/bbl in compared to last trading and was assessed around $51.03/bbl.

$1 = Rs. 64.14
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45