EDC Weekly Report 3 June 2017

Weekly Price Trend: 29-05-2017 to 02-06-2017
 

• 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 remained firm in compare to previous week and at the end of this week prices were assessed at the level of Rs 24/kg.

     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 also have remained firm in compare to earlier week.
• Presently EDC market is moving with soft velocity demand sentiments have soft from end users.
• This week oil prices have followed volatile trend. After OPEC, Russia and other producers extended their agreement to curb output by 1.8 million barrels a day for another nine months, to force a rebalancing of the oil market, the bearish tone in the oil sector resurfaced.
• The ethylene market was bearish as prices remained under pressure. Material is available in ample quantity and demand has been bearish.
• This week feedstock ethylene prices have decreased.
• CFR South East Asia prices of feedstock Ethylene were assessed at the level of USD915/mt.

• FOB Korea and CFR China prices of ethylene were assessed at the level of USD 980/mt and USD 1025/mt respectively.

$1 = Rs. 64.44
Import Custom Ex. Rate USD/ INR: 65.35
Export Custom Ex. Rate USD/ INR: 63.70