Methanol Weekly Report 09 Sep 2017

Weekly Price Trend: 04-09-2017 to 08-09-2017

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.32.5/Kg for Kandla and Rs 32.5/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 32.5/kg for Kandla and Rs 32.5/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 300-320/MTS. Prices have increased in compares to previous week.
• This week in China market prices have increasedCFR China prices were assessed at the level of USD 360/mt.
• CFR South East Asia prices of Methanol were evaluated at USD 340/mt.
• China’s Qinghai Zhonghao restarts its methanol plant.
• As per report, China’s Shenglong Methanol shuts methanol plants.
• As per report, US Gulf Coast petchem capacity will restart by October.
• As per source, China methanol import prices have hit 4 months high.
• Some market players have said that China methanol prices drastically have increased but this increase will be for short period.
•  In the mid of this week methanol prices have increased in China on account of higher demand sentiments and material shortage.
• On Wednesday CFR China prices of methanol were evaluated around at USD 360/mt prices have increased by USD 36/mt in compare to Tuesday.
• Petronas Chemicals group is planning to shut its No.1 methanol plant for a maintenance turnaround. As per report, the company is planning to shut its plant on 9th Oct, 2017 until mid-November 2017. It is based at Labuan in Malaysia, the No.1 methanol plant has a production capacity of 660,000 tonne/year.
• This week oil prices have followed mixed trend. Oil futures eased on Thursday on a slightly bigger-than expected U.S. crude inventory build as the restart of U.S. refiners after Hurricane Harvey was being countered by the threat of Hurricane Irma. On Thursday, closing crude values have remained mixed.WTI on NYME closed at $49.09/bbl, prices have decreased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.29/bbl in compared to last trading and was assessed around $54.49/bbl. As per market players supplies of crude remained sufficient to meet demand.

  $1 = Rs. 63.78
 Import Custom Ex. Rate USD/ INR: 64.90
 Export Custom Ex. Rate USD/ INR: 63.25