EDC Weekly Report 26 May 2018
Weekly Price Trend: 21-05-2018 to 25-05-2018
- 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 decreased in compare to previous week and at the end of this week prices were assessed at the level of Rs 18/kg.
Booking Scenario
INDIA & INTERNATIONAL
- This week in the domestic market, prices of EDC have decreased in compare to previous week and were assessed at Rs 18/kg.
- In international market, prices of EDC have remained firm in compare to earlier week.
- This week EDC prices have remained firm as no major trade deals has taken place.
- FOB Korea prices of feedstock ethylene USD 1200/MT
- CFR China prices of feedstock ethylene USD 1280MT
- CFR South East Asia prices of feedstock ethylene USD 1170MT.
- Mitsubishi Chemical has shut its naphtha cracker for a maintenance turnaround on May 9, 2018. It is expected to remain under maintenance until July 3, 2018 . Plant is located at Kashima in Japan, cracker has an ethylene production capacity of 540,000 mt/year and a propylene capacity of 260,000 mt/year.
- This week oil prices have followed volatile trend. On Thursday, prices plunged, by the prospect of the first increase in OPEC output since 2016 in the face of concern over supply from both Venezuela and Iran, while a surprise rise in U.S. crude inventories raised doubt over seasonal demand.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $70.71/bbl; prices have decreased by $1.13/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.01/bbl in compared to last trading and was assessed around $78.79/bbl.
$1 = Rs. 67.75
Import Custom Ex. Rate USD/ INR: 68.65
Export Custom Ex. Rate USD/ INR: 66.95
