Methanol Weekly Report 02 Sep 2017

Weekly Price Trend: 28-08-2017 to 01-09-2017
 

The above graph focuses on the Methanol price trend for the current week. Prices have followed up inclination for this week. By the end of the week prices were assessed around Rs.27.5/Kg for Kandla and Rs 27.5/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed up inclination and by the end of the week prices were evaluated at Rs 27.5/kg for Kandla and Rs 27.5/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 272-292/MTS. Prices have increased in compares to previous week.
• This week in China market prices have increased CFR China prices were assessed at the level of USD 324/mt.
• CFR South East Asia prices of Methanol were evaluated at USD 320/mt.
• As per recent news, most of the refineries and petrochemical plants have been shut down due to Hurricane Harvey rains in Houston.
• Several more companies have shut down plants as precautionary measures to Harvey impacts or have had production issues as a result of severe weather and flooding.
• Celanese shut down Pasadena methanol plant.
• As per report, Lyondell Basell had power cut problem at Channelview olefins and methanol which has resulted shut down one of its two crackers.
• As per recent information, the port of Kalama has dropped its appeal of the state’s shoreline permit for the Kalama methanol plant.
• Ar-Razi Saudi Methanol has shut its No. 4 methanol plant it is placed at Al-Jubail Saudi Arabia. It is predictable to resume its production on October 17, 2017. The plant has a production capacity of 850,000 mt/year.

  $1 = Rs. 64.02
 Import Custom Ex. Rate USD/ INR: 65.15
 Export Custom Ex. Rate USD/ INR: 63.45