EDC Weekly Report 20 Oct 2018
Weekly Price Trend: 15-10-2018 to 19-10-2018
- 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 decreased in compare to previous week and at the end of this week prices were assessed at the level of Rs 32.75/kg.
Booking Scenario
INDIA & INTERNATIONAL
- This week in the domestic market, prices of EDC have decreased little in compare to previous week and were assessed at Rs 32.75/kg.
- In international market, prices of EDC also have decreased in compare to earlier week.
- This week EDC prices have decreased on firm buying sentiments.
- CFR North East Asia prices were assessed at the USD 1205/MT.
- FOB Korea prices of feedstock ethylene USD 1190/MT.
- CFR China prices of feedstock ethylene USD 1165/MT
- CFR South East Asia prices of feedstock ethylene USD 1065/MT.
- There has been significant decline in crude prices in last two weeks. Prices plunged by more than 11 % in last two weeks. Oil prices rose to nearly four-year highs at the start of October as there has been depletion in crude supply sue to US sanctions on Iran.
- Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
- The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
- The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.
$1 = Rs. 73.32
Import Custom Ex. Rate USD/ INR: 74.30
Export Custom Ex. Rate USD/ INR: 72.60
