EDC Weekly Report 26 Aug 2017

Weekly Price Trend: 21-08-2017 to 25-08-2017
 

• 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 16.5/kg.

Total import at various ports of India July, 2017

Above chart represents the total imported quantity of EDC for the month of July 2017. Last month total imports were around 65694mt. As per chart previous month at Hazira port imports were higher while at Bombay port imported quantity 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 16.5/kg.
• In international market, prices of EDC also have remained firm in compare to earlier week.
• Presently EDC market is moving with weak velocity demand sentiments have been resilient from end users.
• FOB Korea and CFR China prices of feedstock ethylene were evaluated at USD 1155/mt and 1195/mt.
• This week crude oil prices have remained volatile. On Friday, oil prices rose as the U.S. petroleum industry prepared for potential output disruptions as Hurricane Harvey headed for the heart of the nation’s oil industry in the Gulf of Mexico. 
• The storm has rapidly intensified since Thursday while On Thursday closing crude values have decreased.WTI on NYME closed at $47.43/bbl, prices have decreased by $0.98/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.53/bbl in compared to last trading and was assessed around $52.04/bbl.

$1 = Rs. 64.03 
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45