EDC Weekly Report 22 April 2017

Weekly Price Trend: 17-04-2017 to 21-04-2017

• 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.

Total import at various ports of India March, 2017

Above chart represents the imported quantity of EDC in the month of March, 2017. Total imported quantity previous moth was around 44709mt. Last month at Cochin port higher quantity have been imported, while at Hazira imports were lesser.

     Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have remained firm in compare to previous week and were assessed at Rs 24/kg.
• In international market, prices of EDC have decreased in compare to earlier week.
• Presently EDC market is moving with slow pace no major move has been seen from end users.
• EU EDC exports fall nearly 17% in February, as per report.
• This week oil prices have followed mixed trend. On Wednesday oil slumped after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply.
• As per report, the surprise builds in gasoline, along with an increase in U.S. production and imports from OPEC nations, pressured prices. With just weeks to go before OPEC and other producers have to sign off on a new deal to hold down production. OPEC technical staff this month is expected to make a recommendation on whether to extend the cuts, and OPEC's monitoring committee meets the day before OPEC's May 25 meeting.
• CFR South East Asia prices of feedstock Ethylene were assessed at the level of USD1065/mt.

• FOB Korea and CFR China prices of ethylene were assessed at the level of USD 1135/mt and USD 1175/mt.

$1 = Rs. 64.61
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85