EDC Weekly Report 25 March 2017

Weekly Price Trend: 20-03-2017 to 24-03-2017

• 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 remained firm 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 February, 2017

Above chart represent the imported quantity of EDC for the month of February, 2017. Previous month total imported quantity was around 46929mt. As per the chart last month at Cochin port lower quantity has been imported while at Hazira port imports was higher.

     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 plunged in compare to earlier week.
• Domestic market prices of EDC have plunged on account of weak demand sentiments.
• The first US cracker in the wave – a joint venture between Occidental Chemical and Mexichem with 544,000 tonnes/year of ethylene capacity in Ingelside, Texas, started up at the end of February 2017 and is expected to ramp up to full rates by September 2017.
• This week South East Asia prices have plunged.
• This week oil prices have followed scrawny inclination. Oil prices have plunged as U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. Now investors await a meeting between OPEC and its allies that may signal whether they will extend output curbs.
• CFR South East Asia prices of feedstock Ethylene were assessed at the level of USD1030/mt.

• FOB Korea and CFR China prices of ethylene were assessed at the level of USD 1115/mt and USD 1160/mt.

$1 = Rs. 65.41
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50