EDC Weekly Report 24 June 2017

Weekly Price Trend: 19-06-2017 to 23-06-2017
 

• 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 22/kg.

Total import at various ports of India May, 2017

The above chart depicts the total imported quantity of EDC for the month of May, 2017. In the month of May total imported quantity of EDC was around 28004MT. As per chart last month at Vizag port imports were higher, while at Kandla port imports were lower.

 Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have plunged in compare to previous week and were assessed at Rs 22/kg.
• In international market, prices of EDC also have decreased by USD 20/mt in compare to earlier week.
• Presently EDC market is moving with soft-to-sluggish velocity demand sentiments have been soft from end users.
• This week oil prices have followed mixed trend. The oil market posted its worst performance in the first six months in two decades effectively signaling its refusal to accept the effectiveness of the OPEC statement and its desire for further production cuts.
• As per report, OPEC and Russia tried to stabilize prices with cuts at around $50-$60 per barrel, but this week Brent prices fell toward $44 per barrel on persistent oversupply worries.
• On Thursday Crude oil rose moderately following a Wednesday in which the commodity bottomed just above $42 per barrel.
• CFR South East Asia prices of feedstock Ethylene were assessed at the level of USD885/mt.

• FOB Korea and CFR China prices of ethylene were assessed at the level of USD 900/mt and USD 955/mt respectively.

$1 = Rs. 64.52
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.50