EDC Weekly Report 27 Oct 2018

Weekly Price Trend: 22-10-2018 to 26-10-2018

• 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 same in compare to previous week and at the end of this week prices were assessed at the level of Rs 32/kg.

Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have remained same little in compare to previous week and were assessed at Rs 32/kg.
• In international market, prices of EDC also have decreased in compare to earlier week.
• This week EDC prices have decreased on firm buying sentiments.
• CFR North East Asia prices were assessed at the USD 1195/MT.
• FOB Korea prices of feedstock ethylene USD 1065/MT.
• CFR China prices of feedstock ethylene USD 1055/MT
• CFR South East Asia prices of feedstock ethylene USD 965/MT.
• Oil prices reduced on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand.
• "Bearish sentiment could force a re-test of support in the low $70.0 per barrel range.
• The market may shift towards an oversupply situation as evidenced by rising inventories over the pat few weeks.
• U.S. crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said this week.
• Financial markets have been hit hard by a range of worries, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields, and economic concerns in Italy.
• Washington is putting pressure on governments around the world to stop importing oil from Iran.
• Most, including its biggest customer China, are falling in line, and Iran has turned to storing its unsold oil on its tanker fleet in the hope that it can sell the crude off quickly once the sanctions are lifted again.

$1 = Rs. 73.46
 Import Custom Ex. Rate USD/ INR: 74.30
 Export Custom Ex. Rate USD/ INR: 72.60