Methanol Weekly Report 1 Feb 2019 01 Feb 19, 05:49 pm

Methanol Weekly Report 1 Feb 2019

Weekly Price Trend: 28-01-2019 to 01-02-2019

The above graph focuses on the Methanol price trend for the current week. Prices remained highly vulnerable for this week. There has been firmness in the values for this week.
By the end of the week prices were assessed around Rs 25.25/Kg for Kandla and Mumbai ports. Prices increased by Rs.3.75/Kg for this week.

Booking Scenario

INDIA&INTERNATIONAL

This week domestic market prices of Methanol prices have improved significantly on back of firmness in the international market. The abundant supply has now become limited and demand has surged in domestic market.
Prices in the domestic market increased and were assessed to the level of Rs.26.25/Kg for bulk quantity.
CFR India prices were assessed around USD 290/MTS, slightly increased by USD 5/MT for this week. On other side CFR China prices slightly reduced by USD 4/MT for this week and were assessed at the rate of USD 282/MT.
Methanol prices have been highly unpredictable and since last few weeks. With heavy increase in ACP prices last week, values in domestic market remained vulnerable.
The prices will increase or either will fall were out of sight for this week and will continue for this week as well.
The market has been waiting for budget 2019 which was appreciated and has been given thumbs up all the sectors.
Canada based Methanex has posted its North American and Asian contract prices for the month of February 2019. Asian contract prices has been reduced by USD 25/MT and were posted at USD 345/MT. There has been significant decline Methanol price on back of abundant supply in the Asian region with limited demand.
There has been rise in crude values with positive talks in international market. The prices rise has been in particular due to cut in the supply to the US from Saudi Arabia. The price rise came after a report from the U.S. Energy Information Administration (EIA) on Wednesday showed a drop in Saudi crude supply to the United States.
Crude oil prices were stronger after signs emerged that OPEC cuts are impacting trade. EIA's weekly report showed that U.S. imports from Saudi Arabia fell by more than half from the previous week to 442,000 barrels per day (bpd).
The trade talks between US and China in coming days with positive hopes and substantial rise in talks.
Meanwhile US sanctions imposed on Venezuela firm with many stocks stuck at ports is likely to accelerate supply drop in oil.
Much Venezuelan crude oil is rated as heavy and requires the light petroleum naphtha, much of it supplied from the United States, for dilution before export to refineries.