EDC Weekly Report 19 May 2018
Weekly Price Trend: 14-05-2018 to 18-05-2018
- 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 19/kg.
Total import at various ports of India April, 2018
Above graph represents the imported quantity of EDC for the month of April, 2018. Last month total imported quantity was around 37811mt.
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 19/kg.
- In international market, prices of EDC have remained firm in compare to earlier week.
- As per report, EDC supply from US will remain tight in Q2 with plant turnaround.
- In domestic market in near term demand for EDC will remain soft on account of monsoon season from June
- European EDC supply is expected to remain soft in the Q2 of 2018.
- FOB Korea prices of feedstock ethylene USD 1205/MT
- CFR China prices of feedstock ethylene USD 1255MT
- CFR South East Asia prices of feedstock ethylene USD 1190MT.
- Keiyo Ethylene shut its naphtha cracker for a maintenance turnaround on May 13, 2018. It is expected to remain in force until early-July 2018. Plant is located at Ichihara in Chiba prefecture of Japan, the cracker has a production capacity of 740,000 mt/year.
- This week crude oil prices escalated. Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall because of renewed U.S. sanctions, reducing supply in an already tightening market.
- On Thursday, closing crude values have increased. WTI on NYME closed at $71.49/bbl; prices have increased remained firm in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $79.30/bbl.
$1 = Rs. 68.00
Import Custom Ex. Rate USD/ INR: 68.65
Export Custom Ex. Rate USD/ INR: 66.95
