Weekly Price Trend: 28-08-2017 to 01-09-2017
Comparison between domestic price of Formaldehyde and Methanol
From 28th Aug to 01st Sep, 2017
The above given chart shows the comparison between domestic price trend of Formaldehyde and Methanol from 28th Aug to 01st Sep, 2017. Previous week prices of Formaldehyde had followed weak inclination and at the end of the week prices were assessed at Rs. 12.75/Kg at Ahmedabad port. Prices of Methanol which is a feedstock of Formaldehyde also had followed weak trend at Kandla and Mumbai ports and at the end of previous week prices of methanol were assessed at Rs. 23.75/Kg for Kandla and Mumbai port.
This week the domestic market of Formaldehyde had followed weak tendency and at the end of the week prices were assessed at Rs.12.75/Kg at Ahmedabad port, The prices of methanol also had followed weak proclivity, on 28th Aug, 2017 Methanol prices were assessed at Rs 24.5/kg for Kandla and Mumbai ports and at the end of the week on 1st Sep, 2017 prices of methanol were evaluated at Rs 27.5/kg for Kandla and for Mumbai ports of India.
Previous week, CFR India methanol prices have decreased, domestic prices have increased. This week methanol prices have increased drastically and formaldehyde prices also have increased. Some of the market players have said that this week presently methanol market is moving with up velocity. Heavy rains and floods has led to shutdown of major refineries and plants in US gulf coast which has resulted in increase in prices of chemicals.
CFR India prices of Methanol were assessed in the range of USD 282/MTS. This week prices have increased by USD 12/mt compares to last assessed price.
$1 = Rs. 64.02
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45
