EDC Weekly Report 23 June 2018

Weekly Price Trend: 18-06-2018 to 22-06-2018

• 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 20/kg.

Total import at various ports of India May, 2018

Above graph represent the total imported quantity of EDC for the month of May, 2018.
Last month total import was around 49354MT. As per chart last month at Hazira port imports was higher while at Nhava Sheva port import 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 have escalated in compare to earlier week.
• Ethylene import prices in northeast Asia rose as the limited availability of July-arrival cargoes and continued China spot demand.
• SP Chemicals is planning to shut its No.1 vinyl chloride monomer (VCM) plant for maintenance. plant will shut in early-August, 2018 for around one month. The plant is located at Taixing in Jiangsu province of China, the No. 1 plant has a production capacity of 200,000 mt/year.
• This week feedstock ethylene prices have escalated.
• FOB Korea prices of feedstock ethylene USD 1315/MT
• CFR China prices of feedstock ethylene USD 1380/MT
• CFR South East Asia prices of feedstock ethylene USD 1255/MT.
• China’s Jilin Petrochemical restarts crackers, runs at 90%.
• Cracker to be shut down by JXTG Nippon Energy & Oil. Japan based JXTG Nippon Energy & Oil has restarted its Ethylene cracker in this week. Earlier the cracker was shut down on 9th June end for to carry out some repair work. The unit remained off-stream for around 10 days.The cracker is based at Kawasaki in Japan and has the production capacity of 4,04,000 mt/year of Ethylene.
• This week crude oil prices have followed volatile trend. on Thursday Global benchmark Brent crude extended losses ahead of Friday's meeting of the OPEC, where producers are expected to boost output.
• On Thursday, closing crude values have plunged. WTI on NYME closed at $65.54/bbl; prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.69/bbl in compare to last closing price and was assessed around $73.05/bbl.

 $1 = Rs. 67.84
 Import Custom Ex. Rate USD/ INR: 69.10
 Export Custom Ex. Rate USD/ INR: 67.40