EDC Weekly Report 22 July 2017
Weekly Price Trend: 17-07-2017 to 21-07-2017
- 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 increased in compare to previous week and at the end of this week prices were assessed at the level of Rs 21/kg.
Total import at various ports of India June, 2017
Above chart represent the total imported quantity of EDC for the month of June 2017.
Previous month total imports were around 47609MT. As per chart last month at Hazira imports were higher while at Kandla port imported quantity was lesser.
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 20/kg.
- In international market, prices of EDC also have remained firm in compare to earlier week.
- Presently EDC market is moving with soft velocity demand sentiments have been resilient from end users.
- Last week Ethylene plant no 2 was shut down due to technical issues. Now the operations has resumed to its normal level. The EU2 has a production capacity of 850,000 metric tons annually and is owned by The Kuwait Olefins Company, TKOC, part of the EQUATE Group.
- FOB Korea and CFR China prices of ethylene were assessed at the level of USD 890/mt and USD 925/mt respectively.
- This week oil prices have followed volatility in the market. Oil prices jumped more than 1 percent on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories. On Thursday , oil settled lower in uneven trading.Closing crude values have decreased.WTI on NYME closed at $46.92/bbl, prices have decreased by $0.40/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $49.30/bbl.
$1 = Rs. 64.32
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95
