EDC Weekly Report 24 Feb 2018

Weekly Price Trend: 19-02-2018 to 23-02-2018

• 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 remained firm in compare to previous week and at the end of this week prices were assessed at the level of Rs 15/kg.

Total import at various ports of India January, 2018

Above graph represents the total imported quantity of EDC for the month of January 2018. As per graph previous month total imports was around 129614MT. At Hazira imports were higher while at Nhava Sheva port 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 15/kg.
• In international market, prices of EDC have remained firm in compare to earlier week.
• This week feedstock ethylene prices drop on account of sluggish buying trends ahead of the holidays in China.
• For feedstock Ethylene bearish buying trend have been heard.
• FOB Korea prices of feedstock ethylene USD 1240/MT
• CFR China prices of feedstock ethylene USD 1295MT
• CFR South East Asia prices of feedstock ethylene USD 1200/MT.
• On Thursday, closing crude values have increased. WTI on NYME closed at $62.77/bbl; prices have increased by $1.09/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.97/bbl in compared to last trading and was assessed around $66.39/bbl.
• Crude inventories had been forecast to rise 1.8 million barrels, as stocks seasonally increase when refineries cut intake to conduct maintenance. As per source, the unexpected fall in oil inventories in the U.S. should see support for crude oil prices remain strong.

 $1 = Rs. 64.73
 Import Custom Ex. Rate USD/ INR: 64.50
 Export Custom Ex. Rate USD/ INR: 62.85