Methanol Weekly Report 01 Sep 2018

Weekly Price Trend: 27-08-2018 to 31-08-2018

The above graph focuses on the Methanol price trend for the current week. Prices have followed weak trend for this week. By the end of the week prices were assessed around Rs 31.75/Kg for Kandla and Rs 31.75/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed weak trend and by the end of the week prices were evaluated at Rs 31.75/kg for Kandla and Rs 31.75/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 370/MTS. Prices have remained firm in compares to previous week.
• CFR China prices were evaluated at USD 393/MT. Prices has decreased in compare to last week.
• This week methanol prices have remained volatile on account of uncertain market condition.
• At the end of the week domestic methanol prices have escalated due to higher prices of dollar and energy values.
• China’s Yankuang Guohong plans to shut its methanol unit.
• Canada based Methanex has posted its North American and Asian contract prices for the month of September 2018. Prices posted for the region of North America are USD 485/MT. Prices reduced by USD 5/MT for this month. Prices for the Asian Pacific region has also reduced by USD 5/MT for the month of September. The new prices for Asia Pacific region is around USD 480/MT. These prices are valid till 30th September 2018.
• US September methanol contracts roll at 144-146 cents/gal.
• China based The Hebei Tianlu Energy has restarted two of its Methanol units after brief maintenance schedule. Earlier the units were shut down last week for brief maintenance. The units are based in Hebei province of China and one of its unit has the production capacity of 1,50,000 tonnes/year.
• This week oil prices have followed volatile trend. On Thursday oil prices increased due to extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. crude inventories.
• On Thursday, closing crude values have increased. WTI on NYME closed at $70.25/bbl. Prices have increased by $0.74/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.63/bbl in compare to last closing price and was assessed around $77.77/bbl.
• Market players have said that market will remain tight towards the end of the year because of falling supply in countries such as Iran and Venezuela combined with strong demand, especially in Asia.

 $1 = Rs. 70.99
 Import Custom Ex. Rate USD/ INR: 71.10
 Export Custom Ex. Rate USD/ INR: 69.40