Methanol Weekly Report 05 May 2018

Weekly Price Trend: 30-04-2018 to 04-05-2018

The above graph focuses on the Methanol price trend for the current week. Prices have followed volatile trend for this week. By the end of the week prices were assessed around Rs 33/Kg for Kandla and Rs 33/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed volatile trend and by the end of the week prices were evaluated at Rs 33/kg for Kandla and Rs 33/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 399/MTS. Prices have decreased by USD 5/mt in compares to previous week.
• China’s Tangshan Zhongrun shuts its No 1 methanol plant it is based at Hebei province, China.
• Presently methanol market is moving with volatile velocity on account of this market players are buying only need based material.
• SMC’s methanol plant will restart on 10th May.
• CFR China prices of methanol were evaluated at USD 400/mt.
• FOB Korea prices of Methanol were evaluated USD 413/mt.
• This week crude oil prices have fluctuated. On Thursday, prices boosted by OPEC production cuts and the potential for new U.S. sanctions against Iran, but gains were limited by growing U.S. crude inventories.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.43/bbl; prices have increased by $0.50/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.26/bbl in compared to last trading and was assessed around $73.62/bbl.

 $1 = Rs. 66.86
 Import Custom Ex. Rate USD/ INR: 67.50
 Export Custom Ex. Rate USD/ INR: 65.80