EDC Weekly Report 31 March 2018

Weekly Price Trend: 26-03-2018 to 30-03-2018

• 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 14.5/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 14.5/kg.
• In international market, prices of EDC have remained firm in compare to earlier week.
• This week EDC prices have remained soft while feedstock prices have escalated.
• This week crude oil prices have followed weak trend but on Thursday oil prices have escalated by 1 percent as the equities markets rallied and as market participants weighed a rise in U.S. crude inventories and production against continued OPEC supply curbs.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $64.94/bbl; prices have increased by $0.56/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $70.27/bbl.
• Showa Denko has shut its ethylene cracker on March 8, 2018 for a maintenance turnaround. The cracker is expected to remain shut for around 40 days. It is placed in Oita, Japan, the cracker has an ethylene production capacity of 690,000 mt/year.
• This week feedstock Ethylene prices ascended in Asia. Prices were rising on the back of high upstream energy values and bullish buying sentiments in the region.
• FOB Korea prices of feedstock ethylene USD 1390/MT
• CFR China prices of feedstock ethylene USD 1370MT
• CFR South East Asia prices of feedstock ethylene USD 1275MT.

 $1 = Rs. 65.17
 Import Custom Ex. Rate USD/ INR: 65.80
 Export Custom Ex. Rate USD/ INR: 64.15