Weekly Price Trend: 29-05-2017 to 02-06-2017
Comparison between domestic price of Formaldehyde and Methanol
From 29th May to 02nd June, 2017
The above given chart shows the comparison between domestic price trend of Formaldehyde and Methanol from 29th May to 02nd June, 2017. Previous week prices of Formaldehyde had followed weak inclination and at the end of the week prices were assessed at Rs. 10.5/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. 19/Kg for Kandla and Rs 19/kg for 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.10.25/Kg at Ahmedabad port, The prices of methanol had followed weak proclivity, on 29th May, 2017 Methanol prices were assessed at Rs 19/kg for Kandla and Mumbai ports and at the end of the week on 02nd June, 2017 prices of methanol were evaluated at Rs 19/kg for Kandla and Rs 19/kg for Mumbai ports of India.
Previous week, CFR India methanol prices have increased, domestic prices also have increased. This week methanol prices decreased. Some of the market players have said that presently methanol market is moving with uncertain velocity. While other industry predictors have said that material 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 239/MTS. This week prices have increased by USD 2/mt compares to last assessed price.
$1 = Rs. 64.44
Import Custom Ex. Rate USD/ INR: 65.35
Export Custom Ex. Rate USD/ INR: 63.70
