Weekly Price Trend: 24-07-2017 to 28-07-2017
Comparison between domestic price of Formaldehyde and Methanol
From 24th July to 28th July, 2017
The above given chart shows the comparison between domestic price trend of Formaldehyde and Methanol from 24th July to 28th July, 2017. Previous week prices of Formaldehyde had followed firm inclination and at the end of the week prices were assessed at Rs. 11/Kg at Ahmedabad port. Prices of Methanol which is a feedstock of Formaldehyde had followed weak trend at Kandla and Mumbai ports and at the end of previous week prices of methanol were assessed at Rs. 20/Kg for Kandla and Mumbai port.
This week the domestic market of Formaldehyde had followed up tendency and at the end of the week prices were assessed at Rs.11.5/Kg at Ahmedabad port, The prices of methanol also had followed up proclivity, on 24th July, 2017 Methanol prices were assessed at Rs 20.75/kg for Kandla and Mumbai ports and at the end of the week on 28th July, 2017 prices of methanol were evaluated at Rs 21.25/kg for Kandla and for Mumbai ports of India.
Previous week, CFR India methanol prices have increased, domestic prices also have decreased. This week methanol prices have increased and formaldehyde prices have increased. Some of the market players have said that presently methanol market is moving with uncertain velocity. While other industry predictors have said that material is still available in ample amount and near term outlook will be bearish as downstream demand will remain bearish.
CFR India prices of Methanol were assessed in the range of USD 242/MTS. This week prices have decreased by USD 1/mt compares to last assessed price.
$1 = Rs. 64.16
Import Custom Ex. Rate USD/ INR: 65.20
Export Custom Ex. Rate USD/ INR: 63.50
